Prospect News reports two new defaults for week of July 27 to Aug. 2

By Caroline Salls

Pittsburgh, Aug. 4 – Prospect News reported two new defaults for the week of July 27 through Aug. 2.

Specifically, Prospect News reported missed interest payments on Quintis Ltd.’s 8¾% senior secured notes and Dana Gas PJSC’s sukuk.

In addition, Prospect News reported TerraVia Holdings, Inc.’s Chapter 11 bankruptcy filing, as well as a missed interest payment on Swiber Holdings Ltd.’s 6½% series 001 trust certificates due 2018. However, both of those companies had previously defaulted.

So far in 2017, Prospect News has reported 117 defaults, including 63 Chapter 11 bankruptcy filings, 18 missed interest payments, seven missed principal payments, four each of Chapter 15 bankruptcy filings and distressed exchanges, three schemes of arrangement, two each of Title III filings and recapitalizations and one each of administrations, bankruptcies, Chapter 7 bankruptcy filings, extrajudicial reorganizations, involuntary Chapter 11 bankruptcy filings, Companies’ Creditors Arrangement Act filings, missed principal and interest payments, notes-for-equity exchanges, plans of arrangement, liquidations, provisional liquidations, safeguard proceedings, missed maturity payments and civil rehabilitations.

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