Jan 09, 2015

How Bad Is It For Shale Companies: The Cost Of Resolute Energy's New Second-Lien Debt: 25%! | Zero Hedge

Over the weekend, we saw the first casualty of low oil prices as WBH Energy went into bankruptcy. Today, Bloomberg reports,Resolute Energy Corp. has been forced by low oil prices to borrow at distressed levels. The Denver-based company, which we previously highlighted as having a 4.5x Debt/EBITDA (there are a lot higher), managed to procure a new $150 million 2nd term loan from Highbridge Capital...

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