Raymond James Downgrades Vanguard Natural Resources (VNR) to Underperform

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Go back to Raymond James Downgrades Vanguard Natural Resources (VNR) to Underperform

Vanguard Natural Resources (VNR) Announces Extension to Notes Payment Grace Period

October 3, 2016 7:02 AM EDT

Vanguard Natural Resources, LLC (Nasdaq: VNR) announced 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 flexibility pending... More