Nuverra Closes Exchange Offer And New Term Loan

SCOTTSDALE, Ariz., April 18, 2016, NESC, /PRNewswire/  Nuverra Environmental Solutions, Inc. ( Nuverra or the Company ) (OTCQB: NESC) announced today that on April 15, 2016 it successfully closed (i) its previously announced exchange offer (the Exchange Offer ) relating to its 9.875% Senior Notes Due 2018 (the 2018 Notes ), (ii) a new $24.0 million principal amount first-lien term loan due 2021 (the Term Loan ) and (iii) related transactions as part of a comprehensive restructuring of its outstanding indebtedness pursuant to the previously announced Restructuring Support Agreement.  As a result, the Company s annual cash interest payment obligations have been reduced by approximately $17.8 million for the remainder of 2016, $17.9 million for 2017 and $8.6 million for 2018. The debt restructuring plan is intended to improve liquidity, defer cash interest expense, and preserve value for common stock shareholders. Exchange Offer Pursuant to the Exchange Offer, the Company offered to e


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