Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SargeK who wrote (50697)	9/9/1999 11:36:00 AM
From: SargeK	Read Replies (1) of 95453

I regard the Debt for Equity Swap as a Positive Jean Fitzgerald, company chairman, president and chief executive: "While a number of issues remain to be worked out, the general outline is in place and has the support of our major creditors. The end result will be a significant deleveraging of our balance sheet, which should in turn strengthen our operating capabilities and enable us to be a financially sound and competitive enterprise going forward." Under a proposed restructuring plan, general and trade creditors would be paid in full; Hvide's existing credit facility would be refinanced; holders of its senior notes would exchange their notes for common equity of the company; and holders of the trust convertible preferred securities and common stock would receive common equity and/or warrants to purchase common equity..” famulus.msnbc.com Comments pro and con are welcome. TIA SargeK

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