Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Concordia Healthcare Corp. T.CXR.R



TSX:CXR.R - Post by User

Post by Siyahveziron Oct 19, 2017 10:14am
302 Views
Post# 26831008

the grace period

the grace periodThe deferral of the interest payment does not result in an Event of Default until the expiry of the 30-day grace period as the company has decided to use this period to defer the payment of approximately $26 million of interest due today on its $735 million unsecured notes. The Company will use this time to continue its discussions with lenders with the goal of reaching a consensual agreement that would significantly reduce the Company's debt and interest payments to create a financial foundation able to support Concordia's long-term growth, in other words, turn the debt into equity through a conversion. The resulting dillution of the floating shares will reduce expected values in the short term but will rectify favorably the current state of the company in the long term. This move comes shortly before the general raise of the interest rates which is expected to affect adversly debt loaden companies starting 2018. 
<< Previous
Bullboard Posts
Next >>