Here is a listing of well-known firms trying to restructure or discover new house owners:
– Virgin Atlantic agreed a rescue cope with shareholders and collectors value $1.6 billion. A Excessive Courtroom vote is scheduled for Sept 3.
– Britain’s Premier Oil introduced a $530 million debt restructuring, which wants the assist of each its board and its shareholders.
– Dutch retailer Hema is about to be taken over by its bondholders by means of a debt-for-equity swap.
– Spanish paper producer Lecta Group, previously owned by non-public fairness group CVC, was taken over by bondholders on the finish of 2019 and remains to be engaged on a recapitalisation.
– British buying centre operator Intu Properties is in talks with shareholders and potential new traders to lift funds to shore up its steadiness sheet.
– Seadrill, managed by Norwegian-born transport tycoon John Fredriksen, has written down the worth of its oil drilling rigs by $1.2 billion and employed bankers and attorneys to guage a monetary restructuring. Its debt stands at $7.5 billion.
– Struggling restaurant chains danger disappearing from Britain’s excessive road.
– Chesapeake Vitality Corp filed for Chapter 11, turning into the biggest U.S. oil and gasoline producer to hunt chapter safety lately. It entered right into a restructuring assist settlement, which has the backing of lenders to its fundamental revolving credit score facility.
– U.S. shale producer Whiting Petroleum Corp filed for Chapter 11 chapter and agreed with collectors to chop its debt by about $2.2 billion by means of an alternate of a few of its notes for 97% of latest fairness.
– U.S. vitality producer Denbury Assets Inc employed funding financial institution Evercore Inc to advise on managing its $2.Three billion debt pile.
– J.Crew Group Inc might emerge from Chapter 11 in early September, after its restructuring plan was authorised by a chapter courtroom. The plan will equitize over $1.6 billion of secured debt and supply for $400 million in asset-based loans in addition to $400 million of contemporary monetary support.
– Hertz World Holdings Inc enlisted restructuring consultants at regulation agency White & Case LLP and funding financial institution Moelis & Co to assist it handle a money crunch that has made its $17 billion debt pile probably unsustainable.
(Compiled by Clara Denina, Abhinav Ramnarayan and Chibuike Oguh; Modifying by Kirsten Donovan)