Baytex Energy Corp T.BTE

BAYTEX EXCHANGES $409M IN DEBT FOR $575M

[Trader60]

Once the upsized private placenment is concluded, it will be interesting to see the new debt load of BTE. Granted, the press release stated that some of this money will be used to pay down debt and some for company operations. As such, the debt load should rise slighlty. Will shall see. 

GLTA 

[dandu1924]

The big concern to me is: why BTE need this money for their operations , usualy  if the company is making some money for their basic operation , they should not  ask  again this kind of financing. If you can read between the lines, sounds like BTE is in trouble about the cash and their revenues, so this is mean BTE will going close the bankrupty again as they did before with their

[JohnnyDoe]

I think they're accumulating cash to buy out Juniper once they are able. Juniper can sell bits and pieces here and there and once it gets under 10% of the float they can block buy  Then watch them produce a bunch of metrics on how numbers are improving per share. 

[robert41]

I doubt anyone would put up $575 million to a company knowing it was going bankrupt and I suspect they know more than a few bull board posters... unless they are first on the list re debt repayment and if they were they likely don't want the hassle of dealing with bankruptcy. I think Dandu's thoughts are a little out there on this one.

[dandu1924]

I am talking about my own experience with some others oil companies bankcrupty, ex: RZE, OIL, JUNEX, CUDA, the pattern was the same, they did found  some creditors enough crazy to put their money in this kind of company and  they did never seen their money back ( bankcrupty ).

[Trader60]

Whether they are going into financial hardship is open for debate but I agree with you that it is very strange that they need money for operations as noted in the press release???As well, that this announcenent comes only 16 days after the year end is strange as well.  GLTA