Boart Longyear in $300m restructuring deal with Centerbridge

By Tess Ingram
Updated November 4 2014 - 10:13am, first published October 23 2014 - 1:58pm
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer
"Important step forward": Boart's chief executive, Richard O'Brien Photo: Rob Homer

Boart Long chief executive Richard O'Brien says a distressed debt firm's control of the company was the "by far the best option" for the fiscally challenged mining services company which otherwise would have faced defaulting on its loan next year.