Mouse Over to Stop Rotation & Read Ad

Thursday, February 15, 2018

Bankruptcy May Be Coming for Rex Energy

From NGI:
Appalachian pure-play Rex Energy Corp. disclosed in a regulatory filing this month that it is exploring financial alternatives to strengthen its balance sheet, including the possibility of filing for bankruptcy to restructure. 
The small-cap company disclosed in a U.S. Securities and Exchange Commission Form 8-K filing that the talks began last September with financial advisers that represent a group of investors holding a “substantial portion” of the company’s senior notes. 
While Rex management stressed in the filing that no deal has been reached with noteholders during the ongoing negotiations, possibilities include restructuring, refinancing, asset sales or some type of debt forbearance, among other things. 
Some second lien noteholders, Rex said, have agreed to a voluntary, pre-packaged Chapter 11 bankruptcy filing as a way to reorganize in exchange for debt and equity securities. According to the filing, the company has various bond debts of more than $600 million that are scheduled to mature over the next four years.
Read the whole article by clicking here.

Connect with us on Facebook and Twitter!

No comments :

Post a Comment

Follow by Email