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Seabras Group Emerges From Bankruptcy

Seabras Group said it has emerged from Chapter 11 bankruptcy. The total outstanding debt of the company has been reduced, the debt maturity has been extended by about six years to September 2028, the debt amortization has been re-shaped.

Coincident with the consolidation and Chapter 11 emergence, Larry Schwartz, former CEO of Seaborn, and Roger Kuebel, former CFO of Seaborn, have left Seaborn and the Seabras Group.

Pete Hayes and Don Shassian, Partners Group-appointed Board members, will serve as Interim CEO and Interim CFO, respectively, of the Seabras Group. Andy Bax, the Chief Operating Officer of Seaborn, will remain in the same role.

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