Houston-based Pacific Drilling has emerged from its Chapter 11 bankruptcy process after finalising a restructuring plan, and appointed a new chief executive.
The rig contractor raised a total of $1.5 billion in new capital, including $1 billion in debt and $500 million in equity.
As part of the process the company "equitised" some $1.85 billion in pre-petition debt and paid off another $1.2
