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BRIEF-Patriot National Says Reached Agreement In Principle With Secured Lenders To Recapitalize Co
November 28, 2017 / 7:09 PM / 16 days ago

BRIEF-Patriot National Says Reached Agreement In Principle With Secured Lenders To Recapitalize Co

Nov 28 (Reuters) - Patriot National Inc:

* PATRIOT NATIONAL SAYS HAS REACHED AN AGREEMENT IN PRINCIPLE WITH ITS SECURED LENDERS TO RECAPITALIZE COMPANY - SEC FILING​

* PATRIOT NATIONAL - ‍ANTICIPATES THAT IT WILL REDUCE ITS DEBT, “SIGNIFICANTLY” IMPROVE ITS LIQUIDITY AND FINANCIAL CONDITION

* PATRIOT NATIONAL- ‍PURSUANT TO TERMS OF RSA,DEFINITIVE DOCUMENTATION TO BE NEGOTIATED, LENDERS WILL PROVIDE COMPANY WITH DIP FINANCING - SEC FILING​

* PATRIOT NATIONAL - ‍ ON NOV 28, CO ENTERED INTO A RESTRUCTURING SUPPORT AGREEMENT WITH LENDERS UNDER ITS FINANCING AGREEMENT, DATED AS OF NOV 9, 2016​

* PATRIOT NATIONAL - ‍RSA CONTEMPLATES CO TO FILE VOLUNTARY PETITIONS FOR RELIEF UNDER CHAPTER 11 OF U.S. BANKRUPTCY CODE TO IMPLEMENT RECAPITALIZATION​

* PATRIOT NATIONAL INC - ‍EXPECTS REORGANIZATION TO BE COMPLETED EARLY IN Q2 OF 2018​

* PATRIOT NATIONAL- EXPECTS WILL CONTINUE TO OPERATE BUSINESS IN ORDINARY COURSE,CHAPTER 11 FILING NOT EXPECTED TO HAVE MEANINGFUL IMPACT ON DAILY OPERATIONS​

* PATRIOT NATIONAL-AFTER GIVING EFFECT TO TRANSACTIONS,CO TO BE OWNED BY FUNDS MANAGED BY CERBERUS BUSINESS FINANCE,ITS AFFILIATES,TCW ASSET MANAGEMENT CO Source text (bit.ly/2AjAuh3) Further company coverage:

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