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-Pacific Drilling Successfully Emerges from Chapter 11 Proceedings

Nov 20, 2018 - ENP Newswire
Board and Executive Moves

Pacific Drilling S.A. (OTC: PACDQ) (the 'Company') announced that effective today the Company and certain of its affiliated chapter 11 debtors have emerged from bankruptcy after successfully completing restructuring transactions pursuant to their chapter 11 plan of reorganization (the 'Plan').

In connection with emergence from bankruptcy, the Company raised $ 1.5 billion in gross proceeds in new capital, consisting of $ 1.0 billion of new secured notes and $ 500 million of equity.