Since the restructured
rental reflects the elimination of substantial capital costs, it will remain lower than the market rate for this space, or for equivalent space in other properties, throughout the term of the new lease, unless there is a major downturn in market conditions.
Among life insurance companies, loans in good standing with restructured
terms continued to rise in the first quarter of 1993 to 7.
Todd Bruce, President and CEO of Crystallex commented, "The Company has, for some time, been executing a program to eliminate its hedge book exposure and we are pleased to have closed out all remaining gold forward sales and call options transactions in a restructured
loan arrangement with Standard Bank which will permit Crystallex to significantly extend the payment period, and more predictably manage its cashflow in a rising gold price environment.
Upon satisfaction of the conditions to the effectiveness of the exchange offer and upon counsel's review of the supporting documentation, Fitch expects to assign a 'CCC' rating to TermoEmcali's restructured
senior secured notes for up to US$139.
the outstanding restructured
Indebtedness will be callable by the Borrowers at a cost of 101% during the first year and at par thereafter.
The company restructured
a small portion of its defaulted debt during June 2003 by repurchasing notes with a 45% cash discount.
5% of the common stock of the restructured
Company subject to certain dilution provisions, although such amount is subject to change.