Motivated Vertis Fast Tracks Recapitalization

At the completion of the voting period, nearly all of Vertis’ note holders had accepted the company’s Plan of Reorganization. This includes unanimous support among the Second Lien note holders who voted, as well as a very favorable 96.2 percent acceptance rate among the Senior PIK note holders who voted. The proposed plan will allow Vertis to reduce its debt by approximately 60 percent, or more than $700 million, while substantially lowering interest costs, extending maturities and increasing liquidity.