Bankruptcy & Restructuring >>>

    Ohio Highway Patrol Allocates to Loans in Yield Hunt

    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.

    Detroit Can Seek Opinion on 13th Pension Check

      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’s Fresh & Easy Files Bankruptcy

      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 to Use Cash to Buy Back Bonds

    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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    Ohio Police & Fire to Add More High-Yield Debt

    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 to Forgo Bond Refinance

    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 Targets 300bp Coupon Reduction: CEO

    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 Seeks to Alter Terms of $500 Million Revolver

      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 Chapter 11 Plan Confirmed

    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.

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