Daily News: September 13, 2013

WSJ: Preferred Sands Hires Restructuring Advisers

The Wall Street Journal reported that sources said Preferred Sands Holding hired restructuring advisers at law firm Paul, Weiss, Rifkind, Wharton & Garrison as it handles a high debt load and weak operating results.

The company may file for bankruptcy protection, and is still examining opportunities for an out-of-court restructuring, sources told the WSJ. Barclays, the company’s lender and KeyBanc Capital Markets, could provide a DIP loan in the event of a Chapter 11 filing, the sources also told the WSJ.

To read the entire WSJ article, click here