Marelli is taking proactive steps to strengthen its financial position through a value-maximizing restructuring. We will continue operating as usual, and there will be no interruptions in service or product delivery as we work to complete the restructuring process.
New Liquidity Will Support Normal Course Business Operations
Marelli has commenced chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to comprehensively restructure its long-term debt obligations.
Approximately 80% of the Company's lenders have signed an agreement to support the restructuring, which will reduce the Company's debt and strengthen its liquidity position. To support the Company during this process, Marelli has received a significant commitment for $1.1 billion in debtor-in-possession financing from its lenders. This additional capital underscores lenders’ continued support and confidence in the Company’s underlying business and its long-term potential.
Marelli does not expect any operational impact from this process, and will continue to work closely with its customers, suppliers and partners to innovate and invest in its portfolio of advanced technologies that will differentiate the vehicles of the future and transform mobility.
No changes to how customers receive shipments or service
Working with vendors and business partners
Paying employee wages and benefits
Court filings and other information regarding the claims process are available on a separate website administered by the Company's claims agent, Verita, at: www.veritaglobal.net/Marelli
Restructuring Hotline
Toll-free: 877-606-7509 (U.S. or Canada)
International: 1-310-751-2626
www.veritaglobal.net/marelli/inquiry
Marelli
Fernando Vivanco
United States
Scott Bisang / Jude Gorman / Dylan O'Keefe
Collected Strategies
[email protected]
Japan
Dan Underwood
Ashton Consulting
[email protected]