Catalyst Capital enters comprehensive restructuring agreement with Pacific 

 

April 19, 2016

On April 19, 2016, The Catalyst Capital Group Inc. (Catalyst) announced that it had entered into a financial restructuring agreement with Pacific Exploration & Production Corp. (Pacific or Company). The restructuring will significantly strengthen Pacific's market position in today's unsteady oil environment by reducing the Company's debt and improving its liquidity.

This agreement follows an extensive bid solicitation process that involved six bids and direct negotiations amongst the respective bidders, the Ad Hoc Committee and the Supporting Bank Lenders, the Board of Directors of the Company, acting upon a recommendation from an independent committee of the Board has approved the restructuring transaction.

Catalyst was represented, in Canada, on the restructuring transaction by a McMillan team led by Andy Kent and Caitlin Fell.

The Catalyst Capital Group Inc., a private equity investment firm with more than $6 billion in assets under management founded in 2002, is a leader in operationally focused turnaround investing.