Creditors say they have to forgive almost $7bn in debt, while the equity holders stand to gain from write-offs and asset sales
Tag: debt restructuring
Posted inDaily Brief
Oi asks bondholders to take cuts
Brazilian telecom also offers to sell assets and raise new capital to get out of $20bn in debt
Posted inDaily Brief
Court approves Pacific E&P restructuring
Ontario court greenlights agreement between the oil and gas company and Canadian private equity fund
Posted inDaily Brief
Creditors suggest Oi debt relief
Bondholders could agree to a five-year grace period and haircut on existing debt but they will seek an equity stake from the Brazilian telecom
Posted inDaily Brief
Pacific E&P details counteroffer
An alternative restructuring deal from minority shareholders involves $575m in DIP financing and money to break the existing agreement with Catalyst
Posted inDaily Brief
Pacific E&P bondholders back Catalyst offer
More than 98% of the oil and gas company’s creditors have voted in favor of the Canadian private equity firm’s restructuring plan
Posted inDaily Brief
Pacific E&P mulls new restructuring offer
Oil and gas company receives a letter proposing an “alternative transaction” on the eve of a creditors’ meeting
Posted inDaily Brief
Altos Hornos files for bankruptcy protection
Mexican steel producer files petition for protection under Chapter 15 of US bankruptcy law
Posted inDaily Brief
PDG nears debt restructuring agreement
Brazilian home builder says it has almost concluded negotiations with four local lenders
Posted inDaily Brief
Gol brings back Lark as CFO
Indebted Brazilian airline brings back the CFO that took it public in 2004