Jefferies Raises price Target on Apollo Global Management (APO) After Spending Time with Management
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March 18, 2016 5:35 PM EDT
By Jessica DiNapoli
NEW YORK (Reuters) - Some cash-strapped U.S. oil and gas companies are considering creating an unusual layer of debt as a way of surviving the rout in oil and gas prices, according to restructuring advisors.
Chesapeake Energy Corp (NYSE: CHK) for example is considering the strategy to swap some of its roughly $9 billion debt.
Severely distressed companies may issue so-called 1.5 lien debt, sandwiched between the first and second liens, to raise new capital. Investors with a stomach for risk would get a better yield... More
March 18, 2016 3:52 PM EDT
1. Valeant Pharma (NYSE: VRX) shares were hit this week after the company reported Q4 EPS of $2.50 with revenue of $2.8 billion. The Street was looking for EPS of $2.61 and revenue of $2.75 billion. In addition, Valeant lowered its FY16 outlook and guidance for the next four quarters. Shares are down over 60 percent on the week.
2. The Fed offered a statement from the FOMC's March 15th - 16th meeting.... More
