​C&J Energy Services reaches restructuring agreement, to file for Chapter 11 bankruptcy – HBJ

C&J Energy Services Ltd. (NYSE: CJES) reached a restructuring support agreement with certain lenders last week and plans to begin a reorganization under Chapter 11 of the U.S. Bankruptcy Code on or before July 17, the company disclosed in a July 11 filing with the U.S. Securities and Exchange Commission.The reorganization, which will allow C&J to eliminate approximately $1.4 billion in debt, includes a debt-to-equity conversion and an equity rights offering.

Source: C&J Energy Services reaches restructuring agreement, to file for Chapter 11 bankruptcy – Houston Business Journal

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