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Thanks for posting about RIG latest 8-K. What

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TuMaRu   Friday, 10/09/20 10:47:49 PM
Re: eastunder post# 3340
Post # of 3493 
Thanks for posting about RIG latest 8-K. What are they trying to do, using off-balance sheet vehicle to rollover their secured and senior secured bonds??? If they truly wanted to refi, why not do a buyback, or simply issue notes with a better revolver to current bonds and redeem them in open market?

RIG has been the most mismanaged oilfield services co. for over a decade now, by an uber-idiot CEO. If he thinks he can pull wool over bond investors, boy is he wrong. PIMCO will take them to the cleaners in a hurry. Think RIG is on its last legs (pun!) might have the rug pulled out from under its feet (double pun!!). And this used to trade in $160s and $170s little over 10 years ago....

Ch. 11 filing seems inevitable now for RIG with this latest shenanigan.

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