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Boart Longyear to solve colossal debt conundrum with mammoth dilution

The results are in from Boart Longyear’s latest strategic review, launched in January, and the result is a plan to recapitalise to tackle debt, reduce its interest costs, and strengthen the balance sheet of the mining services firm.

Boart Longyear to solve colossal debt conundrum with mammoth dilution Boart Longyear to solve colossal debt conundrum with mammoth dilution Boart Longyear to solve colossal debt conundrum with mammoth dilution Boart Longyear to solve colossal debt conundrum with mammoth dilution Boart Longyear to solve colossal debt conundrum with mammoth dilution

Boart Longyear is aiming to dig itself out of a deep debt hole

The deal will swap debt for equity, and see 98.5% of the company under the control of Boart's lenders.