Mallinckrodt (MNK +20.1%) inks agreements with
certain institutional investors to exchange ~$495M of its outstanding
4.875% Senior Notes due 2020 for new 10.000% First Lien Senior Secured
Notes due 2025 on a dollar-for-dollar basis (neither was discounted).
The deal gives the company a bit of breathing room as it tries to stabilize its finances.
Shares plummeted in mid-March after it failed to secure new term loans.
https://seekingalpha.com/news/3558974-mallinckrodt-inks-debt-exchange-deal-pays-price-shares-up-20
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.