When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
DNR - Denbury Resources Heads Towards Restructuring
Denbury Resources Inc.
Denbury Resources (DNR) looks set to become another energy bankruptcy after skipping an $8 million interest payment on June 30 for its 6.375% convertible senior notes due 2024.
With $636 million in debt maturing in 2021, there wasn't much of a path for Denbury to escape restructuring, especially with oil still around $40. Restructuring is likely to result in nearly all (if not all) of its new equity going to its second-lien noteholders. Denbury appears likely to be in reasonably good shape post-restructuring, as it has only a modest amount of credit facility debt and