Under the terms of the restructuring support agreement, the Equity Investors – the Getty family entities and Koch Equity Development subsidiaries – would own 100% of the reorganized company upon emergence from bankruptcy, the company said. Noteholders representing 83.5% of Getty’s unsecured notes agreed to repay $270 million of outstanding senior unsecured notes, while noteholders representing approximately 89% of the company’s secured notes and term loans, and 100% of revolving credit facility lenders, agreed to reduce interest obligations and extend debt maturities.
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