DEBT EQUITY CONVERSION – AUSTRALIA

Grech steps aside from Slater + Gordon

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Original article by Jonathan Shapiro, Sarah Thompson
The Australian Financial Review – Page: 15 & 24 : 30-Jun-17

The board of embattled law firm Slater & Gordon will resign in the wake of a debt-for-equity deal with a group of international institutional investors. US hedge fund Anchorage Capital will emerge as the major shareholder in the listed law firm, while investment banks and distressed debt funds will also convert their debt into equity. Slater & Gordon’s veteran MD Andrew Grech will stay at the firm as a non-executive director until a successor is appointed. The firm incurred large losses following its expansion into the UK market.

CORPORATES
SLATER AND GORDON LIMITED – ASX SGH, ANCHORAGE CAPITAL PARTNERS PTY LTD, YORK CAPITAL MANAGEMENT LP, TACONIC CAPITAL ADVISORS LP, DAVIDSON KEMPNER CAPITAL MANAGEMENT LP, RIVER BIRCH CAPITAL, METRIC CREDIT PARTNERS, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, DEUTSCHE BANK AG, QUINDELL PLC, MIRVAC GROUP – ASX MGR, MAURICE BLACKBURN PTY LTD

Paladin flags critical debt restructure

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 11-Jan-17

Australian-listed uranium producer Paladin Energy has revealed plans to restructure its debt. Some $US212m worth of convertible bonds are set to mature in April 2017, while an additional $US150m worth of convertible notes will mature in 2020. Paladin proposes to replace them with $US115m worth of secured bonds and $US102 million of convertible bonds, which would mature in 2022 and 2024. Bondholders would also be issued with shares in Paladin if they endorse the proposal.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ATLAS IRON LIMITED – ASX AGO, EMECO HOLDINGS LIMITED – ASX EHL, CITIGROUP PTY LTD, SHAW AND PARTNERS LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ELECTRICITE DE FRANCE, CHINA NATIONAL NUCLEAR CORPORATION

Atlas Iron in plea for debt support

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Original article by Tess Ingram
The Australian Financial Review – Page: 30 : 19-Apr-16

Shares in Atlas Iron closed 17.4 per cent lower at $A0.019 on 18 April 2016. The iron ore miner’s chair, Cheryl Edwardes, has written to shareholders urging them to support a debt restructuring proposal, stressing that the group could go into voluntary administration if the deal does not proceed. Lenders would gain about 70 per cent of the company’s equity if the deal is approved by Atlas’s shareholders and lenders.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, CGI GLASS LEWIS PTY LTD, PPB HOLDINGS PTY LTD, MOUNT GIBSON IRON LIMITED – ASX MGX