Samson Resources' lenders gain required support for restructuring: Bloomberg
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E-mail(Reuters) - A group of lenders lead by Silver Point Capital and Cerberus Capital Management have gained sufficient support to go ahead with a restructuring plan for the beleaguered oil-and-gas producer Samson Resources Corp, Bloomberg reported, citing people familiar with the matter.
The consortium of lenders, who collectively own Samson's $1 billion second-lien term loan, gained support from two-thirds of their creditor class, Bloomberg said.
The company, owned by KKR,is planning to file for bankruptcy at midnight in Delaware, Bloomberg reported.
Samson Resources, Silver Point Capital, Cerberus Capital and KKR could not be reached for comment outside regular U.S. business hours.
(Reporting by Ankush Sharma in Bengaluru; Editing by Cynthia Osterman)
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