TPC Group Announces Extension to Forbearance Agreement

HOUSTON, May 23, 2022 (GLOBE NEWSWIRE) — As previously disclosed, TPC Group (the “Company”) is in ongoing, constructive discussions with a group representing approximately 90% and approximately 80% of the Company’s two series of senior secured notes (the “notes”) (the “Ad Hoc Group”), respectively, as well as other economic stakeholders, and that the Ad Hoc Group agreed to forbear from exercising remedies relating to certain specified defaults, including those caused by the failure to make the February 2, 2022 and May 1, 2022 interest payments on the notes.

 

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