OGX Petroleo & Gas Participacoes SA, which has the worst-performing bonds in emerging markets this year, holds off-balance-sheet obligations tied to its sister- company that could swell liabilities by as much as 39 percent in the event of insolvency, according to Covenant Review.
Suntech Power Holdings Corp., the Chinese solar-panel maker that announced a forbearance agreement March 11 for $541 million in convertible debt, may be required to pay bondholders who haven’t agreed to the deal.
In a private dining room at the Beverly Hills restaurant Spago, four dozen financiers gathered in April for a dinner put on by one of their own: Leon Black , head of private equity giant Apollo Global Management LLC .
China won’t rescue Suntech Power Holdings Co. from its creditors because the former biggest solar-panel maker needs to retrench along with the rest of the industry, two advisers to government agencies said.
Chesapeake Energy Corp. sued trustee Bank of New York Mellon Corp. in Manhattan federal court seeking to redeem more than $1.3 billion in notes early and avoid new interest, according to a court filing.
Chesapeake Energy Corp., the second- biggest U.S. natural-gas producer, completed an unprecedented bond offering Feb. 13 that could limit returns in the event of an asset sale, according to bond analysts from Wells Fargo & Co. and Covenant Review.
The trustee administering $541 million in bonds from Suntech Power Holdings Co. Ltd. sent the solar company a notice of default yesterday as the deadline to redeem the notes passed, a person familiar with the matter said.