Currently, Millennium cannot declare dividends to Lyondell due to certain restrictions in its existing bond indentures
As a result of delayed filings, Doral has been in technical default under their public bond indentures
The collateral for the new facilities consists of physical assets in a current amount of approximately $400 million, which is below the threshold that would trip unsecured bond indentures
and result in pari-pasu status with the banks in respect to the collateral.
BOL's bond indentures
require the company to submit SEC filings to the trustee within 15 days of the SEC filing deadlines.
Of note is that given the ownership structure, Husky faces few limitations under its bond indentures
with regards to distributions or change in control.