Edition:
United Kingdom

SAExploration Announces Entry Into Comprehensive Restructuring Support Agreement


Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Saexploration Holdings Inc ::SAEXPLORATION ANNOUNCES ENTRY INTO COMPREHENSIVE RESTRUCTURING SUPPORT AGREEMENT.SAEXPLORATION HOLDINGS INC - IN CONNECTION WITH RESTRUCTURING, SAE HAS REACHED AGREEMENT IN PRINCIPLE TO INCREASE FACE AMOUNT OF REVOLVER TO $20 MILLION.SAEXPLORATION HOLDINGS INC - SAE EXPECTS THAT IT WILL HAVE ELIMINATED APPROXIMATELY $87 MILLION IN PRINCIPAL AMOUNT OF OUTSTANDING DEBT.SAEXPLORATION HOLDINGS INC - AS OF DECEMBER 15, 2017, SAE'S BACKLOG WAS APPROXIMATELY $49.7 MILLION.