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JONE - Jones Energy: Restructuring Expected Within A Month
Jones Energy Inc. Class A
While Jones Energy (OTC:JONE) hasn't announced that it is restructuring yet, it appears extremely likely that it will do so within a few weeks. As expected, Jones Energy did not make a March 15 interest payment for its unsecured notes due 2023. It has a 30 day grace period to make that payment, but is unlikely to do so because of its dwindling liquidity. Jones continues to be in discussions with noteholders, but that will probably only affect whether it has a restructuring agreement in place when it files for Chapter