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Pacific E&P announces comprehensive debt restructuring

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The proposed restructuring deal will see US$5.3 billion of debt converted to equity and US$500 million of new financing provided. Existing shareholders will be left with a minimal stake in the new organisation at best. Few companies have been hit as hard as Pacific E&P by the oil price collapse and its extreme financial distress makes a radical deal of this nature inevitable. With the company potentially now on the path to a firmer financial footing we consider its options.

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    Pacific E&P announces comprehensive debt restructuring

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