Shares of Basic Energy Services ended the day much higher after an announcement that they would avoid a default thanks to another extension by creditors.
- PR Newswire•2 days agoBasic Energy Services Announces Extensions Of Forbearance Agreement And Waivers To Continue Deleveraging Negotiations With Secured Lenders And Unsecured Bondholders
On September 14, 2016, the Company entered into a forbearance agreement with over 81% of the holders of the 7.75% senior notes due 2019 (the "2019 Notes") with respect to the previously announced 30-day grace period related to an $18.4 million payment of interest under the 2019 Notes. Under the forbearance agreement, the unsecured noteholders agreed to forbear from exercising their rights and remedies, including the right to accelerate any indebtedness, through September 28, 2016 in connection with the interest payment default (the "Forbearance Period"). During the Forbearance Period, the Company and its creditors have continued to make progress in their negotiations regarding a deleveraging transaction. To provide the Company with additional time to continue and conclude these discussions, the Company has reached an agreement with over 81% of the holders of the 2019 Notes to extend the Forbearance Period through October 16, 2016 (the "Extension Period"). The Company's Secured Lenders have also agreed to provide extensions of their respective temporary waivers through the Extension Period.
- PR Newswire•8 days agoSally Beauty Holdings & Versum Materials Set to Join the S&P MidCap 400; Others to Join S&P SmallCap 600
NEW YORK, Sept. 23, 2016 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices: Sally Beauty Holdings Inc. (NYSE: SBH) will replace R.R. ...
Basic Energy Services, Inc. (BAS)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||0.81 x 53800|
|Ask||0.86 x 5000|
|Day's Range||0.76 - 0.93|
|52wk Range||0.37 - 5.17|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||-0.10|
|Avg Vol (3m)||2,630,317|
|Dividend & Yield||N/A (N/A)|