Vantage Drilling Company Common Shares (VTGDF)

[seven-up]

I called the BK and sold my shares and made money on Vantage Drilling

BK was simple to see it coming
seven-up Member Level Tuesday, 11/10/15 11:00:43 AM
Re: seven-up post# 68
Post #
69
of 369 Go
Been worried looks like BK is coming, damn... Be careful, could wipe out investors equity...

seven-up Tuesday, 11/10/15 10:59:26 AM
Re: None
Post #
68
of 978 Go
Because some or all of these factors will have a significant impact on our ability to service our debt as scheduled, we have entered into discussions with certain Term Loan holders and holders of our secured senior notes (“Senior Notes”) regarding a possible deleveraging transaction to substantially reduce our overall debt levels and near-term debt service. The deleveraging transaction may require a substantial restructuring of the Company’s capital structure including a conversion of a substantial amount of the Term Loans and Senior Notes to equity. In order to execute such a restructuring, it may be necessary to seek court protection for the transaction in the United States or the Cayman Islands. There can be no assurances that we will reach an agreement with the Term Loan holders and Senior Note holders that will be adequate to provide sufficient liquidity to meet our scheduled debt service requirements. Any such deleveraging transaction could have a material and adverse impact on our existing shareholders and creditors. If we are unable to complete such a deleveraging transaction, we anticipate taking further actions that may include preserving cash flow by cold stacking drilling equipment, additional workforce reductions, raising additional equity on a preferential basis to our existing equity, pursuing single or multiple asset sales or potentially selling or merging the Company, although there can be no assurance that we will be successful in any of these actions.
http://hsprod.investis.com/site/irwizard/vtg/ir.jsp?page=sec_item_new&ipage=10568289&DSEQ=&SEQ=&SQDESC=


seven-up Saturday, 11/07/15 09:09:11 AM
Re: None
Post #
66
of 978 Go
Will be a miracle if this is not BK before end of the grace period on the note....