Kuala lumpur: Multi-Color Corporation ("MCC" or the "Company") today announced the successful completion of the Company's financial restructuring process and emergence from its prepackaged Chapter 11 process.

According to BERNAMA News Agency, the Company's prepackaged restructuring has resulted in a reduction of net debt by approximately $3.8 billion. Additionally, the restructuring has decreased annualized cash interest expense by more than $330 million and extended long-term debt maturities to 2033. More than 99% of voting stakeholders voted to accept MCC's Plan of Reorganization.

Upon its emergence from this process, MCC also secured a significant $889 million new common and preferred equity investment. This investment was made by CDandR and a group of MCC's existing secured lenders, aimed at supporting MCC's long-term growth and investment strategy.