ENGLEWOOD, Colo., May 21, 2019 (GLOBE NEWSWIRE) — Ascent Capital Group, Inc. (Ascent) (NASDAQ: ASCMA) today announced that its wholly owned subsidiary Monitronics International, Inc. (Monitronics or the Company) has entered into a Restructuring Support Agreement (the Support Agreement) with its largest creditors that will eliminate approximately $885 million in debt.
Under the terms of the Support Agreement, up to approximately $685 million of debt will be converted to equity, including up to approximately $585 million of the Companys 9.125% Senior Notes due in 2020 and $100 million of the Companys term loans. The Company will also receive an additional $200 million in cash from the Companys noteholders through an equity rights offering …
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