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Concordia Healthcare Corp. T.CXR.R



TSX:CXR.R - Post by User

Post by rad10on Dec 19, 2017 3:03pm
290 Views
Post# 27189514

Still no deal and the interest keeps racking up.............

Still no deal and the interest keeps racking up.............As previously announced, the Company commenced proceedings under the Canada Business Corporations Act (the "CBCA") in an effort to realign its capital structure. The Company continues to advance ongoing discussions with its debtholders in this effort, and is focused on realigning its capital structure on a consensual basis. In connection with the Company's efforts to advance a potential recapitalization transaction, the Company has determined to defer the payment of the approximately $37.5 million of interest due today on its 9.5% senior unsecured notes. Such deferral of the interest payment does not result in an Event of Default until the expiry of the 30-day grace period, and any default or Event of Default in respect of the non-payment of the foregoing interest amount is subject to the stay of proceedings granted in the Company's CBCA proceedings. It is expected that the foregoing interest payment will be addressed as part of any recapitalization transaction that may be completed by the Company.
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