Sentences with phrase «senior subordinated note»

There is no scheduled amortization under the Asset - Based Revolving Credit Facility; the principal amount of the revolving loans outstanding thereunder will be due and payable in full on May 17, 2016, unless extended, or if earlier, the maturity date of the Senior Secured Term Loan Facility and the Senior Subordinated Notes (subject to certain exceptions).

Axcelis Technologies Inc (NASDAQ: ACLS) has failed to make a payment required under the company's 4.25 % Convertible Senior Subordinated Notes.

As expected, Axcelis has used US$ 86.4 million of the proceeds to repay Convertible Senior Subordinated Notes that were due in January but the company had failed to secure alternative finance last year to pay the notes.

Shortly after we opened the position ACLS failed to make a payment required under its 4.25 % Convertible Senior Subordinated Notes, which meant that the company was required to repay the outstanding principal amount of the notes plus a maturity premium and accrued interest (a total payment of approximately $ 85 million) on January 15.

ACLS received around $ 35.9 M in cash after applying $ 86.4 M of the proceeds to meet obligations to the holders of the company's 4.25 % Convertible Senior Subordinated Notes, upon which ACLS defaulted in January.

Not exact matches

[239] As noted in Section 2 - 1 above, the TIFIA lien on pledged revenues can be subordinated to those of senior lenders to the project except in the event of bankruptcy, insolvency, or liquidation of the obligor.

Axcelis will use a portion of the proceeds from the sale of its SEN interests to meet its obligations under its 4.25 % Convertible Senior Secured Subordinated Notes, which were due in January.

If there are limits on the company's ability to pay interest or repay principal to subordinated note investors while it has senior debt

Whether the company generates enough cash to make payments on both senior debt and subordinated notes, now and in the future

The Senior Notes Will Not Be Secured And Will Be Effectively Subordinated To Future Secured Debt To The Extent Of The Value Of The Assets Securing Such Debt.

This senior / subordinate concept is not unlike a CDO structure in terms of how the senior notes are protected.

The money borrowed from smaller investors is generally «subordinated» to the senior debt, and so corporate hybrids are called «subordinated notes».

The calculated multiples for the notes are sufficient to maintain the current ratings on the senior, subordinate and junior subordinate notes.

NEW YORK --(BUSINESS WIRE)-- Fitch Ratings has affirmed the ratings on the senior, subordinate and junior subordinate notes for National Collegiate Trust (NCT) 2007 - A student loan asset - backed notes issued by First Marblehead Corporation (FMD).

Fitch affirms the senior, subordinate and junior subordinate notes, and maintains a Negative Outlook on the following National Collegiate Trust Series 2007 - A student loan asset - backed notes:

The firm is frequently called upon by major players in the region to advise on a variety of corporate finance mandates, with recent work highlights including assisting a group of financial institutions, acting as the deal managers, with General Shopping's offer to exchange subordinated unsecured notes for senior secured notes and equity.

The Investcorp / TriLyn team will actively target income - producing commercial and multi-family residential properties in major markets throughout the United States, with a focus on acquiring or originating senior mortgage loans, subordinated debt (B notes), mezzanine debt, and bridge loans secured directly or indirectly by commercial real estate.