Lien

Audacy Receives Court Approval of Reorganization Plan

Retrieved on: 
Tuesday, February 20, 2024
Entertainment, Technology, TV and Radio, Music, Audio, Video, Podcast, International, FTI Consulting, PJT Partners, AUDA, Plan, DIP, OTC, News, Growth, Federal Communications Commission, Radio, Sport, Federal, United States bankruptcy court, Latham & Watkins, Gibson Dunn, LLP, Bankruptcy, Lien, Financial adviser

Audacy, Inc., (OTC: AUDA) (the “Company” or “Audacy”) announced today that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) approved the Company’s Plan of Reorganization (“the Plan”).

Key Points: 
  • Audacy, Inc., (OTC: AUDA) (the “Company” or “Audacy”) announced today that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) approved the Company’s Plan of Reorganization (“the Plan”).
  • With the Plan approved, Audacy expects to emerge from the Chapter 11 process after the Company obtains approval from the Federal Communications Commission.
  • “Today’s announcement marks a powerful step forward for Audacy, positioning the Company for an exciting future,” said David J.
  • “As expected, we have achieved a speedy confirmation of our prepackaged Plan, which will enable Audacy to pursue our strategic goals and opportunities in the dynamic audio business.

PennantPark Investment Corporation Announces Financial Results for the Quarter Ended December 31, 2023

Retrieved on: 
Wednesday, February 7, 2024
GAAP, Lien, Tax, Investment, Eastern Time Zone, Line of credit, Depreciation, ID, Truist Financial, Core

For the quarter ended December 31, 2023, there were no one-time events, resulting in $0.24 of Core NII.

Key Points: 
  • For the quarter ended December 31, 2023, there were no one-time events, resulting in $0.24 of Core NII.
  • All callers should reference conference ID #2627395 or PennantPark Investment Corporation.
  • Set forth below are the results of operations during the three months ended December 31, 2023 and 2022.
  • During the three months ended December 31, 2023, we declared distributions of $0.21 per share, for total distributions of $13.7 million.

ADT Provides Solar Business Update and Advances Capital Allocation Strategy

Retrieved on: 
Wednesday, January 24, 2024
Share repurchase, Increase, ADT, Webcast, Solar, Small business, Lien, BOCA

BOCA RATON, Fla., Jan. 24, 2024 (GLOBE NEWSWIRE) -- ADT Inc. (NYSE: ADT), the most trusted brand in smart home and small business security, today announced it will be exiting its residential solar business. The Company will remain focused on cash flow generation and capital-efficient growth within its core security and smart home business. As part of this continued focus, ADT is also advancing its capital allocation strategy, including a cash dividend increase and authorization of a new share repurchase program.

Key Points: 
  • BOCA RATON, Fla., Jan. 24, 2024 (GLOBE NEWSWIRE) -- ADT Inc. (NYSE: ADT), the most trusted brand in smart home and small business security, today announced it will be exiting its residential solar business.
  • As part of this continued focus, ADT is also advancing its capital allocation strategy, including a cash dividend increase and authorization of a new share repurchase program.
  • As a result of these challenges, the Solar segment generated an Adjusted EBITDA loss of $89 million during this period.
  • As the Company executes share repurchases, the Board will periodically review the remaining authorization as part of its capital allocation strategy.

Audacy Reaches Agreement with a Supermajority of its Debtholders on Balance Sheet Deleveraging Transaction that Will Equitize Over 80% of the Company’s Debt and Establish a Robust Capital Structure to Drive Long-Term Growth

Retrieved on: 
Sunday, January 7, 2024
Audio, Video, Technology, Entertainment, TV and Radio, Podcast, Gibson Dunn, PJT Partners, AUDA, Plan, Federal, Radio, Bankruptcy, Lien, LLP, Acquisition, International, FTI Consulting, Latham & Watkins, DIP, News, Federal Communications Commission, Sport, CBS Radio, Advertising, Growth, RSA, OTC, United States bankruptcy court, Financial adviser

Through the restructuring, Audacy and its debtholders will undertake a deleveraging transaction to equitize approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to approximately $350 million.

Key Points: 
  • Through the restructuring, Audacy and its debtholders will undertake a deleveraging transaction to equitize approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to approximately $350 million.
  • The Company does not expect any operational impact from the restructuring, and trade and other unsecured creditors will not be impaired.
  • These market factors have severely impacted our financial condition and necessitated our balance sheet restructuring.
  • Audacy common stock will continue to trade over-the-counter under the symbol “AUDA” through the pendency of the Chapter 11 process.

PREIT Takes Steps to Significantly Strengthen Balance Sheet and Solidify Future of Business

Retrieved on: 
Monday, December 11, 2023
United States bankruptcy court, DIP, OTCQB, LLP, Indian stock exchange, DLA Piper, Common stock, PJT Partners, History, Galactic Effectuator, RSA, Mortgage law, File, Second lien loan, Growth, LP, Common, PREIT, Lien, Houlihan Lokey, Bank, Security (finance), Accounting, Trustee, Bankruptcy

PHILADELPHIA, Dec. 11, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET), a leading operator of diverse retail and experiential destinations, today announced it is taking steps to execute a comprehensive reorganization to strengthen its balance sheet, reduce its total indebtedness by approximately $880 million and extend its maturity runway.  The reorganization plan (the "Prepackaged Plan") is supported by 100% of PREIT's First and Second Lien Lenders. To facilitate this process, the Company has received commitments for new money debtor-in-possession ("DIP") and exit revolver financing in an aggregate amount of approximately $135 million from a diverse group of leading investors, led by Redwood Capital Management, LLC and Nut Tree Capital Management, LP. This funding commitment, together with the unanimous support from the Company's existing lender group for the Prepackaged Plan, is a testament to the lenders' confidence in the Company's forward path and represents a crucial source of capital to support the Company's financial stability and long-term growth.

Key Points: 
  • "We are pleased to be moving forward with strengthening the Company's balance sheet and positioning it for long-term success through this Prepackaged Plan.
  • The filing will ensure that PREIT can continue all business operations without interruption while it obtains necessary approvals of its financial restructuring.
  • Under the terms of the Prepackaged Plan, a reorganized PREIT would emerge following the court-supervised process with a restructured balance sheet.
  • Equity Payment: Existing Preferred and Common Shares of PREIT will be canceled and PREIT will no longer be a publicly traded company.

KBRA Assigns Preliminary Ratings to Last Mile Logistics CMBS 2023-1 UK DAC

Retrieved on: 
Friday, July 28, 2023
Professional Services, Finance, KBRA, CMBS, United Kingdom, Lien, Citibank, KLTV, Engineering, Telescopic sight

KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Last Mile Logistics CMBS 2023-1 UK DAC, CMBS single-borrower transaction.

Key Points: 
  • KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Last Mile Logistics CMBS 2023-1 UK DAC, CMBS single-borrower transaction.
  • The collateral for the transaction is a £289.8 million limited recourse, first lien mortgage loan that is expected to be originated by Citibank, N.A.
  • Thereafter, the borrowers are required to purchase either a SONIA cap or swap for successive one-year periods until the final repayment date.
  • The resulting in-trust KBRA Loan to Value (KLTV) is 86.8%.

Technicolor Creative Studios: Progressing towards delivering its recovery plan

Retrieved on: 
Monday, April 3, 2023
Elminster's Ecologies Appendix I: The Battle of Bones / Hill of Lost Souls, Business, Energy and Industrial Strategy Committee, Commercial Court, Note, OID, Lien, Respiration, Vantiva, Technicolor Creative Studios, Risk, Equity, Chapter Three, Judgement, Sale, TCS, Creativity, Prospectus, Documentation, AMF, Growth, Appendix, Film industry, Commercial property, Security (finance), Self storage, Management, Medical device, Euronext Paris, Euronext, Barclays

PARIS (FRANCE), April 3, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) announces today an update of the implementation of its refinancing.

Key Points: 
  • PARIS (FRANCE), April 3, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) announces today an update of the implementation of its refinancing.
  • New chapter of Technicolor Creative Studios’ Refinancing:
    Approval by a judgment of the Commercial Court of Paris dated March 29, 2023, which puts an end to the conciliation procedure opened on January 20, 2023
    Caroline Parot, Chief Executive Officer of Technicolor Creative Studios, said: “Reaching an agreement on the refinancing of Technicolor Creative Studios has been pivotal in establishing the foundations of our long-term growth.
  • I am delighted that the process is progressing well with the execution of a conciliation protocol in line with the established schedule.
  • We are extremely grateful for the confidence and support of our key creditors and shareholders, as we strive to achieve Technicolor Creative Studios’ full value potential.

Prairie Provident Resources Announces Fourth Quarter and Year-End 2022 Financial and Operating Results and Update on Repositioning Plan

Retrieved on: 
Saturday, April 1, 2023
PPR, Bank statement, Lien, Recapitalization, Equity (finance), G&A, Equity, US, Subordination, The Company, Finance Secretary (India), Outline, MD, SEDAR, Mortgage law, Growth, Completion, Cryptocurrency, Security (finance)

CALGARY, Alberta, April 01, 2023 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") announces our operating and financial results for the fourth quarter and year ended 2022.

Key Points: 
  • CALGARY, Alberta, April 01, 2023 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") announces our operating and financial results for the fourth quarter and year ended 2022.
  • Although the Company achieved production only slightly (6%) below previously guided volumes, 2022 saw headwinds for Prairie Provident, primarily through $25.5 million of realized hedging losses from mandatory credit facility hedging requirements.
  • Earlier this week PPR announced a comprehensive recapitalization plan to significantly improve the Company's financial flexibility and sustainability (detailed below).
  • From an improved financial position from the recapitalization explore transactions that may unlock value within the Company.

SHAPING THE FUTURE FOR TECHNICOLOR CREATIVE STUDIOS FOLLOWING AGREEMENT ON ITS REFINANCING

Retrieved on: 
Wednesday, March 8, 2023
AMF, Convertible, Commercial Court, Sale, Commercial Court (Victoria), Technicolor Creative Studios, Prospectus, Fiducial inference, Original issue discount, Lien, AFEP, Mass meeting, Euronext Paris, Commercial, Documentation, Angelo Gordon, Creditor, Annual general meeting, Vantiva, Credit, New Money, Date, Agreement in principle, Film industry, Bank, Security (finance), Cryptocurrency, Lease, Self storage, Euronext, TCS, Principle

Technicolor Creative Studios reaches an agreement in principle on a €170m new money injection, including recapitalization

Key Points: 
  • Technicolor Creative Studios reaches an agreement in principle on a €170m new money injection, including recapitalization
    Paris (France), March 8, 2023 – Technicolor Creative Studios is pleased to announce an agreement in principle that provides a framework for rebound of the Company to the benefit of its studios, talents, customers and suppliers.
  • The Company has reached an agreement in principle on a new financing structure which includes a c.€170 million new money injection.
  • This would enable Technicolor Creative Studios to address its liquidity needs from Q2 2023 and allows operating cash flow to be focused on operational needs.
  • Anne Bouverot, Chairperson, and Caroline Parot, CEO: “This new favorable framework reaffirms the strong commitment of all our stakeholders, in particular our shareholders and lenders, and demonstrates their renewed confidence in the long-term prospects of Technicolor Creative Studios.

Martin Midstream Partners Reports Fourth Quarter and Full Year 2022 Financial Results and Releases 2023 Financial Guidance

Retrieved on: 
Wednesday, February 15, 2023
Other Energy, Oil, Gas, Energy, Other Transport, Trucking, Maritime, Logistics, Supply Chain Management, Transport, Public expenditure, MMLP, Sulfur, DSM, Partnership taxation in the United States, Scotmid, NGL, Maintenance, EBITDA, GAAP, Sale, Sumathi Best Television Current Reporting Award, Securities and Exchange Commission (Philippines), Lien, USGA, Central Time Zone, Partnership, Conference, Natural gas, Security (finance), Cryptocurrency, Bookkeeping

Martin Midstream Partners L.P. (Nasdaq:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the fourth quarter and year ended December 31, 2022.

Key Points: 
  • Martin Midstream Partners L.P. (Nasdaq:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the fourth quarter and year ended December 31, 2022.
  • We anticipate that by the end of the second quarter of 2023, all remaining butane inventory volumes will be sold.
  • Transportation operating income was $11.1 million and $5.1 million for the three months ended December 31, 2022 and 2021, respectively.
  • Sulfur Services operating income was $9.1 million and $8.9 million for the three months ended December 31, 2022 and 2021, respectively.