METS

Boart public life fading

Creditors have approved the recapitalisation that will get Boart Longyear (ASX: BLY) off the hook for about US$196 million of unsecured debt but will slash non-Centerbridge shareholders’ stakes in the drilling equipment and services provider from 35% to just 2%.

Boart public life fading

The recapitalisation plan still needs to be approved at next week’s Boart annual general meeting and a second court hearing for the creditors’ schemes to be held on July 4. The recapitalisation is expected...

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