RE:TAT Refinances debtor could it be a way to sell TBNG since tats creditors owned all the assets-at end of qtr tat had $179,000,000 in liabilities & they just changed creditors-wonder the chance of statoil buying tat out of TBGN and if so what if any thing happens to pti? tat needs to reduce debt this did not do that
As of August 8, 2016, we had granted a security interest in favor of the Lenders over all of the equity interests in, and moveable assets of, TBNG, and were in the process of granting a security interest in favor of the Lenders over all present and future receivables of TBNG. We are also in active negotiations with third party purchasers for the sale of TBNG. We have engaged Seaport Global Inc. as an independent advisor, and our management is actively pursuing alternate structures for the 2017 Notes.