Sanchez Energy Contract Rejection, Trend of Midstream Decisions

Sanchez Energy Contract Rejection, Trend of Midstream Decisions

Analyzing the Sanchez Energy contract rejection based on a recent decision in the bankruptcy case for the privately held oil and natural gas company, our most recent Americas Core Credit podcast features Reorg legal analysts Mike Legge and Sean Daly as they discuss the first in a recent trend of midstream contract rejection decisions to move beyond hypothesizing in dicta and to actually authorize the rejection of a midstream agreement despite the presence of a covenant running with the land. Bankruptcy professionals with an interest in midstream rejection issues saw notable debtor friendly trends in 2020 case law weakening both...

Read More
Direct Lending in India Webinar: Challenges, Risks and Rewards

Direct Lending in India Webinar: Challenges, Risks and Rewards

Join Reorg’s Asia Core Credit team on Thursday, May 20 for a discussion on direct lending in India; the challenges, risks and rewards. Our senior reporters for Asia, Nidhi Pandurangi and Rajhkumar Shaaw will be joined by industry guest Eshwar Karra from Kotak Special Situations Fund. In India, private investors have plugged the gap left by traditional funding avenues such as banks and non-banking financial companies (or NBFCs). However, with central banks worldwide opting to keep the liquidity flowing to tackle the pandemic, the spreads narrowed while the risks increased. This webinar will examine the challenges investors face investing in...

Read More
Offshore Drilling News, Commodity Pricing and Capital Markets

Offshore Drilling News, Commodity Pricing and Capital Markets

Brent crude oil is up about 9% from one month ago and is hovering around $68 per barrel, setting the backdrop for what should be a healthier market for exploration and production companies as well as offshore drillers. Within offshore drilling, signs of highly anticipated industry consolidation are starting to emerge. For example, Noble reportedly made a bid for certain Seadrill assets. Seadrill Partners secured a four-well contract plus an option for up to seven additional wells for the West Capella drillship in Malaysia. Vantage Drilling will provide services for the West Capella, pursuant to a management services agreement between Vantage and Seadrill Partners. Commodity prices...

Read More
PNM/AGR Merger Application Conditionally Approved

PNM/AGR Merger Application Conditionally Approved

Outlining a few key takeaways from the PNM/AGR merger application being canvassed by Chairman Peter Lake and Commissioner Will McAdams of the Public Utility Commission of Texas, our M&A by Reorg team discusses the conditional approval of the application in detail. Texas-New Mexico Power Co., NM Green Holdings and Avangrid Inc.’s application was modified under a unanimous stipulation and on March 30 the commissioners motioned to approve the application last week.  Furthermore, the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission still need to review the transaction which is arranged to potentially be closed in H2 2021. Read...

Read More
Bombardier Revenue and Liabilities; Covenants Analysis

Bombardier Revenue and Liabilities; Covenants Analysis

Announced on Monday, May 3, 2021, Bombardier revenue and liabilities may see significant changes in connection with their recently disposed segments. Their latest divestitures may have violated restrictions in the 2034 notes and, in addition, Bombardier’s history of dispositions and corporate reorganizations give the company reason to argue that the sales did not constitute a fundamental change in their normal course of business. Our Americas Covenants by Reorg team analyzes the situation in detail breaking down the governing framework in terms of the asset sales and their aggregations as well as if these sales constitute all or substantially all assets,...

Read More

Titan International Covenants Analysis and Updated Tear Sheet

Updating our Titan International covenants analysis, the Americas Covenants by Reorg team took a deeper dive into the global wheel, tire and undercarriage industrial manufacturer and supplier after their ABL Facility was updated to include an anti-hoarding provision. This new facility set in place is likely to place further potential restrictions on access to liquidity, plus their 2028 notes potentially restrict the divestiture of their ITM business. Additionally our updated Titan International covenants analysis includes a breakdown and an in-depth investigation into the company’s new secured 2028 notes, the amended ABL agreement, the potential divestiture of the ITM business and...

Read More
1 40 41 42 43 44 50
Thank you for signing up
for Reorg on the Record!