The St. Louis company entered a regulatory filing on May 23 to the effect, noting that the deal is contingent upon a larger restructuring plan with its smaller credit holders, according to the St. Louis Business Journal.
It called negotiations “global restructuring” in the filing, and said they are ongoing and not yet finalized.
In all, it has been able to retool $1.25 billion in debt; it reached a deal in April with secured lenders totaling $650 million.
On May 20, Foresight announced an agreement with certain lenders to extend the terms of a forbearance agreement dated December 18, 2015, through July 15.
The deals follow a March warning by the company that it may have to file bankruptcy if a bondholder deal for $600 million in debt could not be negotiated.
Foresight is controlled by Cline Group founder and billionaire Chris Cline.
