Quotes from the news wire:
We're not going to see anywhere near the wave of bankruptcies in 2015.
Found on Reuters 5 years ago
Going forward, we’re seeing banks requiring borrowers to agree to new anti-hoarding provisions, which prevent borrowers from drawing down the full amount of availability under their loans and sitting on the cash, anti-hoarding provisions permit borrowers to draw what they need to use for operations but not to build a war chest for a company readying itself for bankruptcy.
Found on Reuters 8 years ago
When providing a DIP, lenders will want to button down everything that hasn’t already been pledged as collateral, having unencumbered assets in a bankruptcy gives the debtor a bargaining chip with the various constituents at the table, which they would likely have to give up in order to get a DIP loan.
Found on Reuters 8 years ago
There’s just an incredible amount of money out there that’s exposed under these reserve-based loans, even if oil prices were to bounce up to US$50 or US$65, a lot of these companies are already mortally wounded. A lot of them are looking for options, and bankruptcy is one of the obvious options.
Found on Reuters 8 years ago
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