HOUSTON, April 26, 2021 /PRNewswire/ –Diamond Offshore Drilling, Inc. (“Diamond” or the “Company”) announced today that, on April 23, 2021, it and its debtor affiliates emerged from their chapter 11 process after successfully completing a financial reorganization pursuant to their joint plan of reorganization.
The restructuring significantly delevers the Company’s balance sheet and provides substantial liquidity for the Company, resulting in the equitization of approximately $2.1 billion in senior unsecured note obligations and providing the Company with over $625 million of new available capital.
In accordance with the joint plan of reorganization, a newly constituted Board of Directors of the Company was appointed, consisting of Raj…
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