Walter Energy Skips April 15 Bond Interest Payments Amid Reorg Talks |
| April 16, 2015 | April 2015 Bond Updates |
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Walter Energy has opted to skip today's interest payment due to holders of both 9.5% first-lien notes due 2019 and 8.5% unsecured notes due 2020 as widely anticipated amid ongoing reorganization discussions. Management said it's not a liquidity issue, what with $435 million of cash on hand, according to a company statement, as compared to the $46.1 million and $19.1 million due to bondholders, respectively. |
| View more at: http://www.forbes.com/sites/spleverage/2015/04/15/walter-energy-skips-april-15-bond-interest-payments-amid-reorg-talks/ |