HCHC - HC2 seeks to refinance substantially all of its existing debt

HC2 (HCHC) is seeking to refinance all of its existing 11.500% senior secured notes due 2021 and a portion of existing 7.5% convertible senior notes due 2022. As part of the proposed refinancing transactions, company intends to, among other things, issue new senior secured notes and extend the maturity of a portion of its existing convertible notes by exchanging such existing convertible notes for new convertible notes.Proceeds from the issuance of the new senior secured notes are expected to be used, together with other funds, to redeem in full existing senior secured notes, repay the outstanding indebtedness under its revolving credit agreement and pay related fees and expenses.

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HC2 seeks to refinance substantially all of its existing debt