Vantage Drilling Company Common Shares (VTGDF)

[seven-up]

That has nothing to do with common share only senior note holders
There is nothing addressing the common shareholders period in that 8k
Among other things, the Prepackaged Plan eliminates more than $1.5 billion of senior secured debt and most cash interest. More specifically, the Prepackaged Plan provides for a debt-for-equity swap that will result in existing term loan lenders and secured noteholders converting their loans and notes into equity and a pro rata share of $750 million of senior subordinated convertible notes. The new notes will pay interest through the issuance of additional notes (PIK notes) and will have no cash interest burden. Holders of indebtedness under OGIL’s asset-backed revolving credit facility will execute an amended and restated senior secured term loan and letter of credit facility and will receive a payment of $7 million in cash. OGIL also completed a fully backstopped rights offering of senior secured second lien notes with an aggregate offering amount of up to $75 million. All customer, vendor, and employee obligations associated with the ongoing business will remain unaffected.