COMPANIES
From Times Staff and Wire Reports
Mesa Limited Partnership, led by investor T. Boone Pickens, finished a $1-billion debt restructuring by obtaining $616 million in private financing from institutional investors. Mesa will use the funds to retire its short-term bank debt. The partnership also announced it had obtained $150 million in new credit from banks. Coupled with the partnership’s $200 million in cash, Mesa is now ready to start some exploration and development that has been on hold for about a year, Pickens said.
