KCA Deutag lenders agree to debt restructuring

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KCA Deutag lenders agree to debt restructuring

Mezzanine investors have accepted a debt-for-equity swap and senior lenders will be paid down after drilling company KCA Deutag announced the complete of its debt restructuring. Shareholders in the company have injected $550m of new equity, of which $300m will pay down senior debt and $250m will be used to grow the business.

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