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    CGG reaches agreement in principle on restructuring

    Company News // June 7, 2017

    CGG says it has reached an agreement in principle on a financial restructuring plan which meets the company’s objectives of full equitization of the existing unsecured debt, extension of the maturity of the secured debt and financial flexibility to confront various business scenarios through, inter alia, additional new money.

    The company said it has garnered the support of the majority of its secured lenders, the majority of the holders of its Senior Notes and DNCA (in its capacity as a long-standing institutional shareholder, bondholder and convertible bondholder of the company).

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