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Stock impact report

Lycra enters restructuring agreement to reduce $1.2bn debt [Yahoo! Finance]

Houlihan Lokey, Inc. Class A (HLI) 
Last houlihan lokey, inc. class a earnings: 2/3 04:15 pm Check Earnings Report
US:NYSE Investor Relations: hl.com/us/pressreleases.aspx
Company Research Source: Yahoo! Finance
To implement these measures, Lycra and certain affiliates have filed a voluntary prepackaged Chapter 11 case in the US Bankruptcy Court for the Southern District of Texas. The company said this move follows several months of discussions with major financial creditors and expects to conclude the restructuring process within 45 days due to the near-unanimous support of stakeholders. The restructuring plan has gained substantial approval from holders of Lycra's senior secured term loan, 16.000% Senior Secured Notes, and 7.500% Senior Secured Notes, with these groups agreeing to back the proposed plan of reorganisation. Lycra is seeking standard "first day" relief from the court to allow it to continue regular business operations throughout the restructuring period. As part of these initial motions, the company intends to continue paying all valid debts owed to suppliers and vendors in full during normal business activities. To secure ongoing operations, Lycra has secured commi Show less Read more
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