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SeaDrill Limited Message Board

oldtucker 3 posts  |  Last Activity: Feb 5, 2016 6:56 AM Member since: Feb 25, 2000
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  • Reply to

    Chapter 11

    by venkman1gb Feb 4, 2016 1:03 PM
    oldtucker oldtucker Feb 5, 2016 6:56 AM Flag

    Financial covenants set forth in the Master Credit Agreement consist of a maximum Leverage Ratio (as defined in the Master Credit Agreement) of 65%, above which the Company and certain of its subsidiaries are prohibited from incurring additional indebtedness, and a Consolidated Fixed Charge Coverage Ratio (as defined in the Master Credit Agreement) covenant, which (a) requires the Company to increase the balance of its debt service reserve account if the Company's Consolidated Fixed Charge Coverage Ratio falls below 1.50:1.00, and (b) prohibits the Company from paying dividends if the ratio is below 1.25:1.00. The payment of dividends is also prohibited during default situations. The Master Credit Agreement also provides for additional interest payments under certain circumstances. Specifically, if the gross receipts of the properties securing the loans during any fiscal year exceed an amount determined by dividing the amount of interest otherwise due during that period by 10%, and additional interest payment equal to 10% of such excess is required.

  • Reply to

    Just read Seeking Alpha article and...

    by frdmhr Dec 5, 2014 2:49 PM
    oldtucker oldtucker Feb 4, 2016 11:51 AM Flag

    Anyone know what Peaks total debt service is? As the snow melts and the tide goes out I guess we'll find out who's swimming naked. How much cash did they have on hand last Q ending?

  • oldtucker oldtucker Dec 15, 2015 8:28 AM Flag

    Comparable season pass sales (through Oct 31st-unaffected by weather)
    SNOW(Intrawest)---+10%
    MTN (Vail)---+13%
    SKIS(Peaks)----+4%
    Is this a Northeast specific shortfall when compared to peers or is this typical?

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