| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Adelphia Business Solutions > News item |
Adelphia Business Solutions to miss coupon, starts talks with noteholders
New York, March 1 - Adelphia Business Solutions, Inc. said it will not make the interest payment due March 1 on its 12¼% senior secured notes due 2004 and added that it has begun talks with noteholders on a possible restructuring.
The Coudersport, Pa. communications company was scheduled to pay $15.3125 million to noteholders Friday.
Adelphia Business Solutions added that it has a 30-day grace period before the failure to pay becomes a default.
The company also said it has hired UBS Warburg LLC to provide financial advice and assist in evaluating restructuring alternatives.
In addition, Adelphia Business Solutions has begun talks with some noteholders on restructuring the debt.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.