January 4, 2021 – The Court hearing the Francesca’s Holdings Corporation cases issued a final order authorizing the Debtors to (i) access the $10.0mn balance of a $25.0mn debtor-in-possession (“DIP”) financing facility and (ii) continue using cash collateral [Docket No. 262]. On December 8, 2020, the Court had authorized the Debtors to access a first…
January 4, 2021 – The Court hearing the Francesca’s Holdings Corporation cases issued a final order approving (i) the Debtors’ assumption of a store closing consultancy agreement with Tiger Capital Group, LLC (the “Consultant”) and (ii) store closing procedures (the “Store Closing Procedures”) [Docket No. 259]. On December 16, 2020, the Court had previously issued…
On January 4, 2021, S&P Global Ratings lowered its LT issuer credit and senior unsecured debt ratings on Husky Energy Inc. to BBB- from BBB. On December 15, 2020, Cenovus Energy Inc. and Husky Energy Inc. announced that substantially all their respective shareholders and Husky's preferred stock shareholders approved the companies' proposed combination. The combination…
Antero Resources Corporation announced the pricing of its private placement to eligible purchasers of $500 million in aggregate principal amount of 8.375% senior unsecured notes due 2026 at par. Antero Resources estimates that it will receive net proceeds of approximately $494 million, after deducting the initial purchasers’ discounts and estimated expenses. The Company intends to…
On January 4, 2021, Live Nation Entertainment, Inc. closed its previously announced offering of $500.0 million in aggregate principal amount of 3.750% senior secured notes due 2028 and in connection therewith, the Company, certain of the Company’s subsidiaries, as guarantors, and U.S. Bank National Association, as trustee and collateral agent, entered into an indenture governing…
December 31, 2020 – The Debtors filed their Plan of Liquidation and related Disclosure Statement [Docket Nos. 2001 and 2002, respectively]. The filing of the Plan and Disclosure Statement comes approximately 18 months after the Debtors filed for Chapter 11 on June 30, 2019. According to an exclusivity extension motion filed on October 21, 2020…
December 31, 2020 – The Debtors filed a Combined Plan of Liquidation and Disclosure Statement [Docket No. 301] and separately requested a Court order that would (i) conditionally approve the adequacy of the Disclosure Statement, (ii) approve Plan solicitation and voting procedures and (iii) approve a proposed timetable culminating in a March 8, 2021 combined…
January 1, 2021 – The Debtors filed a Plan of Reorganization and related Disclosure Statement [Docket Nos. 722 and 723, respectively]. They further filed a motion requesting Court approval of (i) the adequacy of the Disclosure Statement (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timeline that would culminate in a March…
December 30, 2020 – The Debtors filed their Third Amended Plan of Reorganization, with technical modifications representing changes to the solicitation version filed on November 23, 2020 [Docket No. 1403]. The Debtors’ Plan confirmation hearing, initially scheduled for January 14, 2021, has been adjourned and is now scheduled for February 25, 2021 [Docket No. 1405]….
December 18, 2020 – The Debtor notified the Court that its Amended Chapter 11 Plan had become effective as of December 18, 2020 [Docket No. 302]. The Court had previously confirmed the Debtor’s Plan on December 9, 2020 [Docket No. 291]. On July 30, Tonopah Solar Energy, LLC (“Tonopah” or the “Debtor”) filed for Chapter…
