Prospect News reports six new defaults for week of April 13-April 19

By Caroline Salls

Pittsburgh, April 21 – Prospect News reported six new defaults for the week of April 13 through April 19.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Adeptus Health Inc., Suniva Inc. and Venoco, LLC; Spanish Broadcasting System, Inc.’s missed principal and interest payment on its 12½% senior secured notes April 15, 2017; Marco Polo Marine Ltd.’s missed interest payment on its 5¾% notes; and Agrokor dd’s administration.

In addition, Prospect News reported Nuverra Environmental Solutions, Inc.’s missed interest payment on its 9 7/8% senior notes due 2018 and 12½%/10% senior secured second-lien notes due 2020 and Swiber Holdings Ltd.’s missed principal and interest payment on its 7 1/8% fixed-rate notes due April 18, 2017.

However, both Nuverra and Swiber had previously defaulted.

So far in 2017, Prospect News has reported 64 defaults, including 39 Chapter 11 bankruptcy filings, nine missed interest payments, four missed principal payments, three distressed exchanges, two each of recapitalizations and missed principal and interest payments and one each of administrations, bankruptcies, Chapter 7 bankruptcy filings, notes-for-equity exchanges and plans of arrangement.

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