Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

[salice02]

Fresca fresca Eletson 2Q....Di male in peggio!!

 

[fedro10]

Moody's affirms Bausch Health's B3 CFR, revises outlook to positive

 

[gualberto]

Monitronics

Certain Noteholders of Monitronics International, Inc. Release Information About Transaction Discussions

qualcuno riesce a capire cosa offrono?

 

[waltermasoni]

Fitch Affirms Suriname at 'B-'; Outlook Stable
24 AUG 2018 12:16 PM ET


Fitch Ratings-New York-24 August 2018: Fitch Ratings has affirmed Suriname's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-'. The Rating Outlook is Stable.

 

[Fabrib]

By Tonya GarciaAug. 24, 2018, 2:36 p.m. EST
J.C. Penney is “flailing” says one analyst, while much of the retail sector is surging. Full Story

 

[fabriziof]

By Tonya GarciaAug. 24, 2018, 2:36 p.m. EST
J.C. Penney is “flailing” says one analyst, while much of the retail sector is surging. Full Story

Flailing o failing?

 

[fedro10]

qualcuno riesce a capire cosa offrono?

non di facile lettura si passa da un 950 x 1000 ad un 72 /87,5 x 1000

Second Lien Note Exchange

2 ) The Company would offer to exchange any or all of the Senior Notes for Second Lien Notes on a par for par basis (if tendered by a specified date) or at a rate of $950 for every $1,000 tendered (if tendered after the specified date).

il punto tre non lo immagino 6,5% di cedola e un 3,5% in bonds ?????

3 9The Second Lien Notes would mature on April 30, 2023 and accrue cash interest at a rate of 6.50% and pay-in-kind interest at a rate of 3.50%.



B. Tender Offer and Unsecured Note Exchange

Ascent would use $100 million in cash (the “Tender Amount”) to tender for Senior Notes in a modified Dutch Auction process at 75.0 - 87.5% of par value. Certain noteholders would backstop the tender offer at a price of 87.5% of par value.

comunque è stata respinta e non hanno raggiunto nessun accordo. tutto da rifare.

 

[fedro10]

Ferrellgas Partners, L.P. Declares Fourth Quarter Fiscal Year 2018 Cash Distribution | MarketScreener

 

[gionmorg]

Argentina's postponement of tariff adjustment is credit negative for Edenor
On 31 July, the Argentine electricity regulator Ente Nacional Regulador de la Electricidad (ENRE) announced that the August semiannual inflation adjustment of Empresa Distribuidora Norte S.A.'s (Edenor, B1 stable) regulated tariff will be put off by six months. The postponement of the tariff adjustment is credit negative for Edenor because we expected positive developments in the regulatory framework would be sustained in a more consistent manner and the deferred tariff adjustment diminishes Edenor’s cash flows by about $5 million per month, or approximately 2% of the company’s 2017 revenue. Positive changes in Argentina's regulatory framework had created a more favorable operating environment for regulated utilities such as Edenor. The changes include the completion of the integral tariff review (RTI), which ENRE approved in February 2017. The RTI revised the tariff regime, which significantly increased tariffs in three stages (see Exhibit 1). The RTI also stipulated a semiannual inflation adjustment of the tariff in February and August of each year. This August's tariff adjustment of 16% was split in two: half of it will be applied starting effectively on 1 August and the remaining half beginning 1 February 2019, in six consecutive monthly installments.

 

[gionmorg]

non di facile lettura si passa da un 950 x 1000 ad un 72 /87,5 x 1000

Second Lien Note Exchange

2 ) The Company would offer to exchange any or all of the Senior Notes for Second Lien Notes on a par for par basis (if tendered by a specified date) or at a rate of $950 for every $1,000 tendered (if tendered after the specified date).

il punto tre non lo immagino 6,5% di cedola e un 3,5% in bonds ?????

3 9The Second Lien Notes would mature on April 30, 2023 and accrue cash interest at a rate of 6.50% and pay-in-kind interest at a rate of 3.50%.



B. Tender Offer and Unsecured Note Exchange

Ascent would use $100 million in cash (the “Tender Amount”) to tender for Senior Notes in a modified Dutch Auction process at 75.0 - 87.5% of par value. Certain noteholders would backstop the tender offer at a price of 87.5% of par value.

comunque è stata respinta e non hanno raggiunto nessun accordo. tutto da rifare.

nulla di tutto ciò, è saltato tutto, la cosa più inquietante è che si parla di ristrutturazione.

While the Disclosing Noteholders engaged in good faith negotiations with the Company to reach agreement on the terms of the proposed exchange offers, they rejected the Company’s last proposal. The Company and the Disclosing Noteholders subsequently were unable to reach an agreement and, as disclosed in the 8-K, have ceased discussions.

Prior to the discussions with the Company, certain holders of the Senior Notes that collectively hold more than 65% in principal amount of the Senior Notes, including certain of the Disclosing Noteholders, entered into a cooperation agreement, dated July 31, 2018 (the “Cooperation Agreement”), which, among other things, requires the consent of each such noteholder for any such noteholder to agree to the terms of a transaction with the Company relating to a restructuring of the Company’s indebtedness. The Cooperation Agreement currently expires on September 29, 2018.

No assurances can be made that (a) any transaction described herein or other transaction involving the Senior Notes will be implemented or (b) any definitive agreements will be reached between the Company and the Disclosing Noteholders with respect to the Senior Notes.