Daily News: April 15, 2014

WSJ: Bankruptcy Judge Confirms Mach Gen Restructuring Plan

The Wall Street Journal reported Mach Gen won court approval of its plan to cut its $1.6 billion debt load by about $1 billion, paving the way for the electricity generator to exit Chapter 11 protection.

First-lien lenders, such as Beal Bank USA, a group owed more than $600 million, will receive $683 million in new debt under the restructuring plan, the Journal reported.

To read the entire Journal article, click here.