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Saturday, 10/15/2016 12:45:41 AM

Saturday, October 15, 2016 12:45:41 AM

Post# of 460
Bonanza Creek Energy (NYSE:BCEI) -7.7% AH after saying it will not make the interest payment due on Oct. 15 for $500M of 6.75% senior notes due 2021.

BCEI now enters a 30-day grace period to make the bond interest payment, which also applies to any potential cross-default under the credit facility with respect to the payment.

BCEI faced a similar situation in August, when it made a bond interest payment following a 30-day grace period.