Lost in last week’s news of more Canadian megamergers, Calgary’s Tervita Corp. unveiled a major restructuring that capped off the company’s near decade-long march toward a broken balance sheet.
As part of the complicated arrangement, the energy services and waste management company will swap its current debt for equity, with secured debt holders getting preferred shares and unsecured debt holders receiving common shares.Report Typo/Error
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- Updated January 24 4:00 PM EST. Delayed by at least 15 minutes.