Exhibit 99.1


Pyxus International, Inc.    Tel: 919 379 4300
8001 Aerial Center Parkway    Fax: 919 379 4346
Post Office Box 2009    www.pyxus.com
Morrisville, NC 27560-2009   


Pyxus International, Inc. Announces Comprehensive Agreement to Deleverage Balance

Sheet and Position Company for Long-Term Growth

Prepackaged Plan Expected to Reduce Debt by More than $400 Million

Secures Commitment of $206.7 Million in Debtor-in-Possession Financing

Company Voluntarily Commences Prepackaged Chapter 11 Proceedings in the U.S.

Bankruptcy Court for the District of Delaware to Implement Restructuring

Operations Will Continue Without Interruption and With No Expected Impact to Customers,

Vendors or Employees

MORRISVILLE, N.C., June 15, 2020

– Pyxus International, Inc. (“Pyxus” or “the Company”) (NYSE: PYX), a global value-added agricultural company, announced today that it and its subsidiaries, Alliance One International, LLC, Alliance One North America, LLC, Alliance One Specialty Products, LLC and GSP Properties, LLC, filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware as part of a “prepackaged” Chapter 11 case (the “Chapter 11 Cases”).

In connection with the filing, the Company entered into a Restructuring Support Agreement (“RSA”) with note holders holding more than 92% in principal amount of the Company’s first lien notes and more than 67% in principal amount of its second lien notes. In addition, the Company’s receivables financing lenders and certain key foreign lenders have granted waivers and amendments under their respective facilities, demonstrating significant global financial support for the Company.

Under the terms of the RSA, Pyxus’ second lien note holders will convert approximately $635 million of the Company’s debt into equity or cash, and its first lien note holders will, among other things, extend the maturity date of their existing notes by four years. To implement the financial restructuring contemplated under the RSA, the Company commenced solicitation of a prepackaged Chapter 11 Plan of Reorganization (the “Prepack Plan”) and thereafter filed for Chapter 11 to restructure its debt and delever its balance sheet. The Prepack Plan contemplates that all outstanding shares of Pyxus common stock and rights to acquire Pyxus common stock will be cancelled and each holder of outstanding Pyxus common stock will be entitled to receive its ratable share of $1,000,000 in cash provided that such holder does not opt out of the third-party releases contained in the Prepack Plan or object to the Prepack Plan.

The following information was filed by Pyxus International, Inc. (PYYX) on Monday, June 15, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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