Under the deal second lien
debtholders will get $ 1.18 billion while CNOOC assumes first - lien notes for $ 825 million.
With forbearance, responsibility for paying accruing interest continues but
debtholders will have their monthly loan payments either temporarily reduced or suspended due to certain financial hardships.
After senior creditors have been paid, subordinated
debtholders will receive payment if anything is left.
Not exact matches
The Canadian stores
will remain open, and the profits
will remain in Canada and reinvested in the business instead of being extracted out by its U.S. parent in order to pay
debtholders.
In her memo, Uhrman writes: «Given our
debtholder's timeline, the process
will be quick.
In the unlikely event that Citigroup goes under, my balanced mandates
will stand in line with the other unsecured
debtholders of Citigroup to receive payment.
I
'll throw this out as my next prediction in this space: they both go into conservation, and in runoff, claimants get paid off, senior
debtholders get nicked, subordinated
debtholders lose a lot, and the equity is a zonk.