Ultra Petroleum completed its in-court restructuring and emerged from Chapter 11. In support of its plan of reorganization, Ultra raised $2.98 billion in exit financing in order to pay creditors in full and preserve significant value for existing equity holders.

In support of its restructuring and in order to satisfy its obligations under the plan of reorganization confirmed by the bankruptcy court, the company closed the following financing transactions:

• $800.0 million senior secured term loan agreement maturing on the seventh anniversary of the closing date among Ultra Resources, a wholly-owned subsidiary of the company, as borrower and Barclays Bank as administrative agent for the lenders.
• $400.0 million senior secured revolving credit agreement maturing 57 months from the closing date among Ultra Resources, as borrower and Bank of Montreal as administrative agent for the lenders.

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Barclays Commits Financing to Support Ultra Petroleum Bankruptcy Exit