Bankruptcy & Restructuring >>>
The State of Ohio’s Highway Patrol Retirement System allocated $22 million in assets to senior secured loans in August as it seeks higher yield. Click HERE for more.
A Detroit municipal-workers’ union can ask a Michigan employment judge to put in writing his opinion that the city violated labor laws when it unilaterally barred retirees from getting an extra pension check, a bankruptcy judge said. Click here to continue reading.
Tesco Plc’s Fresh & Easy Neighborhood Market Inc. filed for bankruptcy so it can sell itself at auction with an affiliate of billionaire Ron Burkle’s Yucaipa Cos. as the lead bidder. Click here to continue reading.
Kinetic Concepts plans to buy back $112 million of bonds due 2019 when it has excess cash provided that the debt trades at an attractive price, said Nathan Speicher, the issuer’s vice president of investor relations and treasury. Click HERE for more.
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The Ohio Police & Fire Pension Fund is boosting its holdings of high-yield debt, including floating-rate bank loans, while reducing equities to limit volatility. Click HERE for more.
Central European Media Enterprises may skip a chance to refinance 273 million euros ($365 million) of 11.625 percent bonds due September 2016 that lost make-whole protection this week after a ratings cut by Moody’s. Click HERE for more.
Kratos Defense & Security Solutions may refinance a $625 million bond early, triggering a $45 million prepayment penalty, to take advantage of low interest rates. Click Here For More
Comstock Resources is seeking to lower the interest rate and expand the size of its $500 million revolving line of credit in the fourth quarter. Click Here For More
AmericanWest Bancorp, a bank holding company in reorganization just short of two years, secured a commitment from the bankruptcy judge at a confirmation hearing yesterday to sign an order approving the Chapter 11 plan. To read more, click here.