Hilliard Lyons Downgrades Vanguard Natural Resources (VNR) to Underperform
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Vanguard Natural Resources, LLC Elects to Exercise Grace Period for Payment of Interest on Senior Notes
October 3, 2016 7:00 AM EDTHOUSTON, Oct. 03, 2016 (GLOBE NEWSWIRE) -- Vanguard Natural Resources, LLC (NASDAQ: VNR) (Vanguard or the Company) announced today that it has elected not to make the approximately $15 million semi-annual interest payment due on October 3, 2016 on approximately $381.8 million in aggregate principal amount of 7.785% of Senior Notes due 2020 (the Notes).Vanguard made the decision to take advantage of the applicable grace period under the indenture governing the Notes following discussions with Vanguards lenders (First Lien Lenders) under its first lien credit facility (the Credit Facility). The First Lien Lenders consented to the Companys decision to preserve liquidity and... More
