Malaysia: Multi-Color Corporation (MCC), a leader in prime label solutions, has confirmed its prepackaged plan of reorganisation and expects to emerge from prepackaged Chapter 11 in the coming weeks. MCC President and Chief Executive Officer, Hassan Rmaile, stated that with the support of financial stakeholders, MCC will emerge with a significantly deleveraged balance sheet and liquidity to support operations, invest in innovation, and continue delivering label solutions for its customers. He expressed gratitude to the company's teammates, customers, and suppliers for their commitment and support throughout the process, and looked forward to the opportunities ahead.

According to BERNAMA News Agency, under the terms of the plan, MCC will complete a comprehensive restructuring transaction designed to significantly deleverage its balance sheet and recapitalise the business. The restructuring aims to reduce net debt by approximately US$3.8 billion, lower annualised cash interest expense by more than US$330 million, and extend long-term debt maturities to 2033. Additionally, MCC will receive a US$889 million investment from CDandR and a group of existing secured lenders, and is expected to hold more than US$500 million in available liquidity post-emergence to support long-term growth and investment.

Plan confirmation follows a successful mediation and global settlement among all major constituencies in MCC's prepackaged Chapter 11 cases, with more than 99 per cent of voting stakeholders approving the restructuring plan. With approval from the United States Bankruptcy Court for the District of New Jersey, MCC expects to receive proceeds from the new equity investment and complete its financial restructuring in the coming weeks.