Bankruptcy

OSSIAM WORLD MINIMUM VARIANCE NR: delisting and liquidation of the sub-fund

Friday, June 5, 2020 - 10:01am

Such redemptions will be free of redemption charge up to the Last Trading Date.

Key Points: 
  • Such redemptions will be free of redemption charge up to the Last Trading Date.
  • From the day after the Last Trading Date to the Liquidation Date, no further subscriptions and redemptions will be accepted.
  • Please note that the Company does not charge any redemption charge (the "Redemption Charge") for the sale of Shares in the secondary market.
  • Following the liquidation of the Sub-Fund, the liquidation proceeds will be distributed to the remaining shareholders proportionnally to the number of Shares held by each shareholder prior to the liquidation.

Technicolor: Receipt of an Indicative Global Proposal From Part of the Existing Creditors of the Group Addressing the New Money Needs and Proposing a Substantial Debt to Equity Conversion

Thursday, June 4, 2020 - 6:54pm

Such proposal addresses both the Groups liquidity requirements and the need to deleverage the Companys balance sheet.

Key Points: 
  • Such proposal addresses both the Groups liquidity requirements and the need to deleverage the Companys balance sheet.
  • This transaction might imply a very significant dilution for existing shareholders who would not participate in the rights issue.
  • The detailed terms and conditions, in particular duration, margin and security package for the new financing, but also subscription price and amount of each capital increase and conditions precedent to such restructuring proposal, are yet to be discussed.
  • The Company has taken into consideration such proposal and will share with the market in due course the outcome of these discussions.

Tuesday Morning Corporation Secures $25 Million of Additional Financing to Support Financial and Operational Reorganization

Thursday, June 4, 2020 - 1:30pm

With this commitment, the Company has secured commitments for a total of $125 million to support the continuity of operations during Chapter 11 proceedings.

Key Points: 
  • With this commitment, the Company has secured commitments for a total of $125 million to support the continuity of operations during Chapter 11 proceedings.
  • This additional capital is an important milestone as it provides significant liquidity for us to continue operations throughout the reorganization process.
  • The DIP financing with B. Riley Financial, Inc. remains subject to a number of conditions, including Bankruptcy Court approval.
  • Haynes and Boone, LLPis serving as legal advisor,Miller Buckfire, a Stifel company, is serving as financial advisor, andAlixPartners, LLPis serving as restructuring advisor to Tuesday Morning.

TRI Pointe Group, Inc. Announces Upsizing and Pricing of $350 Million of Senior Notes Due 2028

Wednesday, June 3, 2020 - 10:46pm

The notes will pay interest semi-annually in arrears at a rate of 5.700% per year and will mature on June 15, 2028, unless earlier redeemed.

Key Points: 
  • The notes will pay interest semi-annually in arrears at a rate of 5.700% per year and will mature on June 15, 2028, unless earlier redeemed.
  • The notes will be jointly and severally guaranteed by all of the Companys wholly owned domestic subsidiaries to the extent they guarantee the Companys existing credit facility.
  • The notes will be pari passu in right of payment with the Companys existing credit facility and existing senior unsecured notes.
  • The closing of the notes offering is expected to occur on June 10, 2020, subject to customary closing conditions.

Chapter 11 U.S. Bankruptcy Filings up 48% in May Compared to Year Ago

Wednesday, June 3, 2020 - 5:00pm

There was a slight increase month over month in U.S. bankruptcy filings.

Key Points: 
  • There was a slight increase month over month in U.S. bankruptcy filings.
  • Across all U.S. bankruptcy code chapters, the total number of new bankruptcy filings in May 2020 was 39,943.
  • Overall, commercial filings were up 13% over April with a total of 2,571 new filings.
  • Non-commercial filings were up only 1% over April with a total of 37,372 new filings across all chapters.

TRI Pointe Group, Inc. Announces Proposed Offering of $300 Million of Senior Notes Due 2028

Wednesday, June 3, 2020 - 2:21pm

IRVINE, Calif., June 03, 2020 (GLOBE NEWSWIRE) -- TRI Pointe Group, Inc. (NYSE:TPH) (the Company) today announced the proposed public offering by the Company of $300 million aggregate principal amount of senior notes, subject to market and other conditions.

Key Points: 
  • IRVINE, Calif., June 03, 2020 (GLOBE NEWSWIRE) -- TRI Pointe Group, Inc. (NYSE:TPH) (the Company) today announced the proposed public offering by the Company of $300 million aggregate principal amount of senior notes, subject to market and other conditions.
  • However, the interest rate, maturity date, size of the offering and other terms of the notes will be determined at the time of pricing of the offering by the Company and the underwriters.
  • The notes will be jointly and severally guaranteed by all of the Companys wholly owned domestic subsidiaries to the extent they guarantee the Companys existing credit facility.
  • The notes are expected to be pari passu in right of payment with the Companys existing credit facility and existing senior unsecured notes.

Earth Science Tech, Inc. (ETST) Announces that the Receiver has Ended the Claims Period Transitioning to the Reorganization Phase on Increasing Company Value

Wednesday, June 3, 2020 - 1:30pm

Closing the claims period is one of the final stages within receivership leading to the Reorg phase where the Company is strategically partnered with synergistic companies to increase ETSTs assets and diversify revenue.

Key Points: 
  • Closing the claims period is one of the final stages within receivership leading to the Reorg phase where the Company is strategically partnered with synergistic companies to increase ETSTs assets and diversify revenue.
  • The Company plans to update its shareholders on the remaining receivership period as it slates dismissal with the Company in a stronger and better position prior to receivership.
  • We look to be out of receivership in the best position that the Company has been operating and progress strong.
  • About Earth Science Tech Inc. (ETST)
    Earth Science Tech, Inc. (ETST) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market.

NACM's May CMI Shows Signs of Rebound

Wednesday, June 3, 2020 - 1:00pm

The current index showed many gains, especially in the favorable factors, but NACM Economist Chris Kuehl, Ph.D., says don't celebrate too early.

Key Points: 
  • The current index showed many gains, especially in the favorable factors, but NACM Economist Chris Kuehl, Ph.D., says don't celebrate too early.
  • The new credit applications category was the big mover in May, vaulting from 31.1 to 43.3, and sales increased more than eight points to 28.6.
  • The unfavorables inched forward in May due to improvements in accounts placed for collection, dollar amount beyond terms and dollar amount of customer deductions.
  • A key factor was bankruptcy filings, which slipped into contraction for the first time in several years, noted Kuehl.

APC Automotive Technologies Enters Comprehensive Restructuring Support Agreement with Debt and Equity Holders

Wednesday, June 3, 2020 - 5:01am

The RSA represents the commitment of the RSA Parties to support a comprehensive restructuring of the Companys balance sheet.

Key Points: 
  • The RSA represents the commitment of the RSA Parties to support a comprehensive restructuring of the Companys balance sheet.
  • Tribby Warfield, Chief Executive Officer of the Company, said, The agreement with our lenders and equity sponsors represents their belief in APCs business and their confidence in its future success.
  • Most importantly, we have an amazing team that is committed to providing quality products and excellent service to the industry.
  • APC Automotive Technologies is a leading supplier of automotive, light truck, and heavy-duty undercar replacement parts.

PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.095 per Share

Tuesday, June 2, 2020 - 9:05pm

NEW YORK, June 02, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for June 2020 of $0.095 per share, payable on July 1, 2020 to stockholders of record as of June 17, 2020.

Key Points: 
  • NEW YORK, June 02, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for June 2020 of $0.095 per share, payable on July 1, 2020 to stockholders of record as of June 17, 2020.
  • ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
    PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt.
  • PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
  • PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein.