NEW YORK – Penton Media reported that its "pre-packaged" plan of reorganization, which was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on Friday, March 5, has become effective, and the company has officially emerged from Chapter 11.
Penton Media noted that the capital restructuring, completed in less than 30 days, resulted in the elimination of more than $270 million of long-term debt and an extension of the maturity on the company's senior secured credit facility through 2014.
The company added that some of its existing shareholders made a significant new investment in the company.
For more information, please visit www.penton.com .
