NEW CASTLE, Del. (Dow Jones)--Announcing its plans for a Chapter 11 reorganization, Applied Extrusion Technologies Inc. (AETC) said it reached an agreement in principle with six bondholders holding over 70% of the company's 10 3/4% senior notes to recapitalize the senior notes."
Here is something you don't often see:
Under the prepackaged Chapter 11 plan, Applied Extrusion will pay its trade creditors in full on a current basis.
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