BRIEF-MBAC fertilizer announces recapitalization transaction

Tue Apr 5, 2016 7:50am EDT
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April 5 (Reuters) - Mbac Fertilizer Corp

* Announces recapitalization transaction

* Says upon implementation, recapitalization is expected to result in a significant reduction of debt

* Entered into a support agreement with Zaff LLC

* Recapitalization contemplates Zaff will acquire substantially all outstanding secured and guaranteed funded debt of Co, Brazilian unit

* Recapitalization has been approved by board of directors of company Source text for Eikon: Further company coverage: