Via Reuters Puerto Rico’s expected default on debt due Saturday would be the start to what could end up becoming one of the largest municipal restructurings, with the potential to open the door to a fight with investors and spark volatility in bond prices. Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island’s debt—totaling
More than $3.2 billion in capital raises were either announced or closed this week by three separate oil and gas companies. The largest raise comes from SandRidge Energy (ticker: SD) at a price of $1.25 billion of 8.75% senior notes, including the greenshoe announced on May 29, 2015. Other entities tapping the capital markets were MarkWest Energy Partners (ticker: MWE)
Chesapeake Energy (CHK) formally announced founder, and current president and chief executive officer Aubrey McClendon will retire effective April 1, 2013. At age 53, McClendon was with the company for 24 years since its inception in 1989 with fellow partner Tom Ward. The Board of Directors said McClendon’s departure is not related to CHK’s ongoing investigation into financing arrangements and
