Vertis Amends Terms of Note Exchange Offer, Floats Chapter 11 Reorganization Plan

Vertis would file a voluntary pre-packaged Chapter 11 petition only if it concludes that a court-supervised process is the most efficient means to successfully complete the recapitalization while protecting its stakeholders’ long-term interests. The GE Capital and Morgan Stanley Senior Funding, Inc. commitments will allow the company to enter the process with funding in place to complete the reorganization within 45 to 60 days of filing and emerge as a well-capitalized company. The plan of reorganization contemplates that the company will honor in full all commitments to employees, clients, suppliers and other business partners, without disruption.