On 18 June, Maxcom announced an offer to holders of the 2020 step-up notes to exchange the bonds for new 8% senior secured notes due 2024, junior payment-in-kind (PIK) notes, and cash. By a 28 June early participation deadline, consideration for each USD 1,000 of principal amount of 2020 notes consists....

Shandong Ruyi Technology Group, a Shandong-based textile manufacturer and global fashion brands owner, showed in its latest results that 1Q19 revenue and EBITDA improved largely as the result of its 51.8%-owned French luxury fashion brand manager and retailer SMCP. However, a series of debt-funded acquisition....

Galapagos Holding, the German heat exchanger manufacturer, which comprises divisions Kelvion and ENEXIO, is to restructure its debt via a scheme of arrangement, as it looks to de-lever to c. 4x from 7.2x at 1Q19. The group is to exit the dry cooling business at a cost of EUR 39m, and implement its ‘FF100’....

Debtwire and Ropes & Gray, a global law firm, are pleased to present Coworking: A real estate revolution? The report, based on a survey of 100 senior executives from across the real estate sector, examines how coworking is disrupting the industry in the United States and Europe.   Over the past....

Kloeckner Pentaplast (KP), the German packaging manufacturer, reported lower-than-expected FY18 EBITDA and a sequential decline from FY17 (unaudited), as a result of higher raw materials prices, FX impact, restructuring costs and a shift to PET/rPET from higher-margin PVC. Free cash flow (FCF) was negative....

Liquid Telecom (LT), the South African fibre network and data-centre operator, has been downgraded by Moody’s, primarily because of concerns over FX headwinds facing the group in Zimbabwe and South Africa. Liquidity has come under pressure following repatriation issues in Zimbabwe, and in January 2019,....

A takeover by the State of California of Pacific Gas & Electric (PG&E) may not be the most likely outcome for the utility, but given PG&E’s status as a company that “Californians hate from deep in their guts”, it remains a possibility. And as Edward Randolph, Deputy Executive Director of the....

The retail sector is dominating the bankruptcy and restructuring market. With high-profile filings like Sears, Payless, Toys R Us, Claire’s and David’s Bridal, it’s clear that the “Amazon effect” tidal wave is far from breaking. Don’t just track the first day, but follow a case all day,....

Hi-Crush Partners (HCLP) produces and transports monocrystalline sand, a specialized mineral used as a proppant during the well completion process in the E&P industry. Hi-Crush acquired the remaining 34% ownership interest in Proppant Logistics, which owns Pronghorn Logistics, in May 2019 for USD....

The key for us continues to be Kaltex’s free cash flow generation, and, in this regard, it has continued improving significantly with respect to 4Q18. For a second consecutive quarter, LTM free cash flow generation for the restricted subsidiaries (consolidated minus Coltejer) was positive, at MXN 388m,....