C&J Energy filed for reorganization under Chapter 11. C&J has executed a RSA with its lenders that provides for the elimination of $1.4 billion of debt.
New Enterprise Stone & Lime entered into a new $450 term loan with a lender group led by Cortland Capital serving as administrative agent. The company also amended its $150 ABL revolver with a group led by PNC as agent.
C&J Energy Services entered into a RSA with certain of its secured lenders which will be effectuated through a Chapter 11 reorganization. Cortland Capital will agent a $100 million DIP facility to support the agreement.