Impact: Negative. A deferral of interest payments adds to mounting short-term obligations including a $120 mm shortfall on the Company's credit facility. Potential for a debt-to-equity swap to alleviate the debt issue would result in massive dilution for current shareholders.
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ANNOUNCES DEFERRAL OF INTEREST PAYMENTS ON SECOND LIEN NOTES
- Published:
15 Jun 2016 -
Author:
Cody R. Kwong -
Pages:
2
Impact: Negative. A deferral of interest payments adds to mounting short-term obligations including a $120 mm shortfall on the Company's credit facility. Potential for a debt-to-equity swap to alleviate the debt issue would result in massive dilution for current shareholders.