Daily News: October 8, 2019

Apollo, Elliott Cut Deal to Support EP Energy Chapter 11 Filing


The Wall Street Journal reported EP Energy filed for Chapter 11 protection by cutting $3.3 billion in debt under a proposed deal with Apollo Global Management and Elliott Management.

According to the Journal, Elliott, Apollo and other EP Energy bondholders have agreed to a proposed restructuring that also includes $629 million in bankruptcy-exit financing, according to court papers. The proposal requires approval from the U.S. Bankruptcy Court in Houston.