Prospect News reports two new defaults for week of April 5 to April 11

By Caroline Salls

Pittsburgh, April 13 – Prospect News reported two new defaults for the week of April 5 through April 11.

Specifically, Prospect News reported a Chapter 11 bankruptcy made by Nine West Holdings, Inc. and Seven Energy Finance Ltd. (Seven Energy International Ltd.)’s missed interest payment on its $300 million of 10¼% senior secured notes due 2021 and $100 million of 10½% notes due 2021.

So far in 2018, Prospect News has reported 52 defaults, including 33 Chapter 11 bankruptcy filings, five missed interest payments, three each of bankruptcies and missed principal and interest payments, two missed principal payments and one each of restructurings, recapitalizations, compulsory liquidations, Companies’ Creditors Arrangement Act filings, distressed exchanges and debt-for-equity exchanges.

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