whitesoul9
Forumer storico
Con o senza rateo?
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate, vol.3 (6 lettori)
- Creatore Discussione fabriziof
- Data di Inizio
Fra41
Forumer storico
Non ho controllato, ho fatto al telefono, però mi hanno detto che c’era il rateo pik
fabriziof
Forumer storico
Rateo pik?
nik.sala
Money Never Sleeps
Quindi flat sicuro
fedro10
è la somma che fa il totale...
|
| Bombardier Rec Products Inc. | Moody's upgrades BRP's CFR to Ba1, assigns Ba1 to new term loan; outlook stable |
T-Mobile USA, Inc. | Moody's assigns a Baa2 rating to T-Mobile's proposed senior unsecured notes; outlook stable
Ultima modifica:
fedro10
è la somma che fa il totale...
Vedanta Inks Deal to Delay Due Dates for $3 Billion of Bonds
- Miner needed creditor backing to revise maturities of 3 bonds
- S&P warned the deal likely to trigger a selective default
(Bloomberg) -- Debt-laden Vedanta Resources Ltd. inked a deal with creditors to extend the maturities of three dollar bonds, a move a ratings agency has warned it may label a default.
The junk-rated miner said bondholders voted in favor of the proposed changes without any amendments, according to a statement on Thursday. The company had already announced it won the requisite backing, but has now executed the amendments.
The agreement is the culmination of months of talks between Vedanta and its creditors, as it sought to come up with a plan to tackle more than $3 billion of bonds maturing in 2024 and 2025. Under the deal, the company will pay $779 million upfront, with the remaining principal extended by as much as four years.
While the deal is designed to give the firm financial room to maneuver, S&P Global Ratings said it constituted a distressed exchange that would probably result in a downgrade to selective default.
Burdened by a heavy debt load amassed due to a string of acquisitions, the group controlled by billionaire Anil Agarwal already cut about $3 billion worth of borrowings. India-based subsidiary Vedanta Ltd. also announced plans to split up and spin off parts of the business.
In order to generate cash for the up-front dollar bond payments, Vedanta late last year inked a $1.25 billion credit facility with lenders including Cerberus Capital Management and Davidson Kempner Capital Management.
The following was Vedanta’s proposal for bondholders. It proposed to revise a covenant on its 2026 bond but did not ask to change the maturity or coupon:
Bond Maturity & Current Outstanding | Upfront Cash Payment Offered | New Principal Amount | Original Coupon | New Coupon | New Maturity |
| Jan. 21, 2024 $1b | $530m | $470m | 13.875% | 13.875% | Jan. 21, 2027 |
| Aug. 9, 2024 ~$951m | ~$57m | ~$894m | 6.125% | 13.875% | Aug. 9, 2027 for $298m Aug. 9, 2028 for $298m Dec. 9, 2028 for $298m |
| Mar. 11, 2025 $1.2b | $192m | $1.008m | 8.95% | 13.875% | Aug. 9, 2027 for $336m Aug. 9, 2028 for $336m Dec. 9, 2028 for $336m |
fabriziof
Forumer storico
Why Petrobras Stock Is Set To Keep Soaring (NYSE:PBR)
Petrobras announced plans to increase its capital spending to $102 billion by the end of 2028. Read more about PBR stock here.
seekingalpha.com