Songa Offshore, the Cyprus-based offshore driller has announced plans to restructure its finances by offering a convertible bond of USD 100m with an option to upsize to USD 125m, raising fresh equity of up to USD 25m at NOK 0.15… Read More ›
Month: March 2016
Near term debt maturities and high interest cost may force Cenveo for debt restructuring to avoid bankruptcy.
Cenveo Inc. (NYSE: CVO) is a Stamford, US based diversified manufacturer of print related products like envelope converting, commercial printing, and labels. As of 31 December 2015, the company operated three reportable segments: envelope, print and label. Total debt stood… Read More ›
In February, FCA posted a 22.4% year-over-year increase in European sales, compared with 14.0% for the industry. As a result, FCA’s ranking improved to fourth overall in Europe, with market share up 50 basis points to 7.4%. All FCA brands… Read More ›
15 March 2016: Fiat Chrysler Automobiles N.V. (“FCA“) (NYSE: FCAU/MTA: FCA) announced today that its subsidiary FCA US LLC (“FCA US”) has entered into amendments to its Term Loan maturing in 2017 and its Term Loan maturing in 2018 (collectively,… Read More ›
Weir Group Plc, the United Kingdom based designer and manufacturer of high-end engineering products and services in FY15 reported 21.3% YoY decline in its revenue to GBP 1.98bn, as order input declined across all its segments. During the period overall… Read More ›
Slump in global oil price forced Denbury to amend its credit agreement prior to the annual scheduled redetermination.
Denbury Resources Inc (DNR: NYSE) is Texas, US Based independent oil and natural gas company with 288.6 MMBOE of proved oil and natural gas reserves, with operations in the Rocky Mountain and Gulf Coast regions of North America. Covenant Summary –… Read More ›
Seadrill’s cost preservation programme boosts adj. EBITDA margin to 55.9% in FY15; however huge debt load maturing in FY16-17 has forced the company to hire a financial adviser.
Seadrill Ltd (SDRL: NYSE), the Norwegian offshore drilling company presented its FY15 results on 26 February, reporting a 13.2% YoY decline in revenue to USD 4.3bn due to prolonged downturn in the offshore drilling market, resulting in higher idle time… Read More ›
Premier Oil’s FY15 top-line down 33% YoY due low oil prices and a slump in volumes; proposed acquisition of E.ON’s North Sea assets for USD 120m.
Premier Oil (PMO:L), the UK based oil and gas company, published its FY15 results on 25 February, reporting a 33% YoY drop in revenue to USD 1.1bn compared to USD 1.6bn in FY14 due to decrease in production volumes and… Read More ›
FCA US LLC 2016 U.S. sales increased 12 %; Best February Sales Since 2006 71st-consecutive month of year-over-year sales gains Jeep® brand sales up 23 percent; best February sales ever Jeep Cherokee, Jeep Wrangler, Jeep Patriot, and Jeep Compass record… Read More ›