Proceeds from the exit totaled $16.7M; $12.4M for full repayment of its senior secured debt
at par, and $4.3M for its equity investment.
It uses cases, questions, and problems to discuss core issues in making secured debt
deals, issues when the debtor defaults, concepts of priority and the role and meaning of perfection, conflicts with other secured parties or creditors claiming a client's collateral, issues when the collateral is sold, special problems in equipment and consumer goods deals, problems in debt deals secured by intellectual property, deal problems involving transfers of the debtor's rights to payment, the effect of bankruptcy on secured deals, and other important issues in asset-based lending and secured debt
Proceeds will be used for general corporate purposes such as the repayment of outstanding legacy secured debt
, consistent with a commitment to reduce the level of secured debt
in the company's capital structure to 30% of total assets.
The federally-licensed producer and distributor of medical-grade cannabis has signed a deal in which the Canadian bank will provide it with up to USD39m of secured debt
Chicago: Fitch Ratings has placed PennantPark Investment Corporation's (PNNT) Long-Term Issuer Default Rating (IDR), senior secured debt
and senior unsecured debt ratings of 'BBB-' on Rating Watch Negative.
CGG announces that it has reached an agreement in principle on a financial restructuring plan (the Agreement in Principle) which meets the Companys objectives of (i) full equitization of the existing unsecured debt, (ii) extension of the maturity of the secured debt
and (iii) financial flexibility to confront various business scenarios through, inter alia, additional new money (the New Money) and has garnered the support of the majority of its secured lenders, the majority of the holders of its Senior Notes and DNCA (in its capacity as a long-standing institutional shareholder, bondholder and convertible bondholder of the Company).
Additionally, the company has agreed to provide approximately USD 251m of five-year secured debt
financing to OZRE for the purchase of 14 CNL Lifestyle ski properties valued at approximately USD 374.5m.
M2 PHARMA-January 19, 2017-Egalet raises USD80m from second tranche of secured debt
It said its recovery rating on the senior secured debt
is unchanged at '5', reflecting its expectation of modest (10 per cent to 30 per cent) recovery in the event of a payment default.
ON Semiconductor Corporation (Nasdaq: ON) has finalized pricing and allocations of new secured debt
facilities, the company said.
Senior secured debt
ratings (domestic currency): to A1 from Aa3
Funding for the bulk sample program is being provided via a secured debt
facility provided by a third-party lender.