Southcross Energy Partners LP (fka SXEEQ)

[The Rainmaker]

News out today, Parent company Emerged from Chapter 11

DJ Southcross Energy Parent Exits Bankruptcy -- Market Talk

Apr 14, 2016 13:15:00 (ET)

13:15 ET - The parent of pipeline operator Southcross Energy (SXE) completes its prepackaged debt restructuring and exits bankruptcy less than a month after filing for Chapter 11 protection. That came after Southcross Holdings reached a deal to cut about $700M in debt. It calls for private-equity backers EIG Global Energy and Tailwater Capital pumping $170M into the pipeline operator in return for a 2/3 equity stake in the reorganized company. SXE wasn't part of the Chapter 11 case. It's up 7.1% today at $2.10, putting the week's bounce at 67%. ([e-mail]; @patfitzgerald23)

(END) Dow Jones Newswires

April 14, 2016 13:15 ET (17:15 GMT)