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 .
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.
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.
Aurelius Capital Management LP, the distressed-debt investor that has battled the government of Argentina and some of Wall Street’s biggest buyout firms, is drawing support for its claims that a mobile-phone carrier in Latin America effectively subordinated some of its obligations.
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.
BP Plc , the target of more than 220 lawsuits over the Gulf of Mexico oil spill, is seeking at least $5 billion in financing to meet compensation payments, according to two bankers approached by the company.
Anadarko Petroleum Corp. sold $2 billion of notes that lack creditor protections against claims stemming from the worst oil spill in U.S. history, underscoring how corporations are gaining the upper hand over debt investors.