trending Market Intelligence /marketintelligence/en/news-insights/trending/dpuunkrjtkstqagezmswxa2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Memorial Production again extends forbearance agreements over skipped payment

Street Talk Episode 41 - How to Win the Funding Battle, Use Fintech to Play Offense

Forward Spark Spreads Suggest Rising Profitability Of US Renewables As Sector Matures

MA Activity The Big Story In Mature Online Video Platform Market

Martina Cheung Backs The Quality Program


Memorial Production again extends forbearance agreements over skipped payment

Memorial Production Partners extended its forbearance agreements with senior note holders for the second time, with the agreements now due to expire Jan. 13, 2017.

Under the agreements, the note holders will refrain from using remedies they are entitled to when Memorial Production Partners chose not to make an interest payment of about $24.6 million on its 2021 notes. The agreements are with note holders of 51.7% of the partnership's 7.625% senior notes due 2021 and of 69% of its 6.875% senior notes due 2022.

Memorial Production Partners also struck an agreement with its revolving credit facility to extend a waiver through Jan. 13, 2017, also related to the skipped payment, according to a Dec. 19 news release.

The agreements were made so the partnership can continue talks with its lenders and a steering committee of its note holders exploring strategic alternatives to improve its balance sheet. Memorial Production Partners is conducting business operations as usual.

Perella Weinberg Partners LP is serving as financial adviser, and Weil Gotshal & Manges LLP is serving as legal counsel.