Getty Images Plans Chapter 11 Restructuring With Up to $533 Million in New Equity
Photo: TokenPost
Getty Images plans to file for a prepackaged Chapter 11 restructuring in the coming weeks, with creditor agreements and up to $533 million in new equity aimed at reducing its debt burden and completing the process by year-end. Getty family members and affiliates of Koch Equity Development will provide the equity investment under the restructuring support agreement. The deal includes $143 million in financing. Holders representing 83.5% of Getty’s unsecured bonds agreed to retire $270 million in outstanding senior unsecured notes.
Source: TokenPost
