March
4 (Reuters) – Debt-laden oil producer Afren Plc has defaulted on its 2016
bonds after declining to make a $15 million interest payment in order to
preserve cash pending completion of a review of its capital structure. - See
more at: http://www.rigzone.com/news/oil_gas/a/137527/Oil_Producer_Afren_Defaults_on_2016_Bonds#sthash.RAlNozPo.dpuf
American
Eagle Energy Corp
3/5/2015
Less
than seven months after raising $175 million in a junk-bond offering,
American Eagle Energy Corp. said Monday that it wouldn’t make its first
interest payment on the debt. Instead, it hired two advisers -- Canaccord
Genuity Group Inc. and Seaport Global Holdings LLC -- to negotiate with
bondholders on a plan to restructure its debt, according to three people with
knowledge of the situation who asked not to be named because the matter is
private. The holders of the notes are left to consider how to maximize
recovery of their investment, either by giving the company more time to try
to become profitable or by pushing it into default.