Trade publisher Penton Media Tuesday announced that it has reached an agreement with its lenders on the terms of a restructuring through a pre-packaged Chapter 11 plan of reorganization. If approved, the plan is expected to eliminate $270 million in debt.
In addition to the agreement, the company said a number of its existing shareholders have agreed to make “a significant” new investment in the company. When contacted by FOLIO:, a Penton spokesperson declined to say exactly how much of an investment will be made.
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