US creditors push back against some creative funding trades, Moody's says [Yahoo! Finance]
Thryv Holdings, Inc. (THRY)
Company Research
Source: Yahoo! Finance
practice among some stressed companies to engage in a creative financing technique that allowed them to raise new money, said a Moody's report on Thursday. Over the past year, many junk-rated companies like At Home Group and Trinseo have engaged in liability-management transactions, called "double dip," to raise new liquidity to pay back maturing debt or in some cases to remain solvent, said Moody's. Under a double-dip, debt is issued by a financing subsidiary, with guarantees from the parent and other subsidiaries. The subsidiary then gives a loan to the parent which then becomes collateral for the new debt. "Double-dips allow borrowers to attract new money by offering some lenders a bigger share of any recovery pie” said Derek Gluckman, a Vice President with Moody's Private Credit team. These transactions gave some lenders a distinct advantage over others in existing credit agreements as they could claim two times the value of a bankruptcy claim in what is also called “credi
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THRY
News
- Thryv Announces $40 Million Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- Thryv Grows SaaS Revenue 24% in First Quarter 2024, Raises Full Year SaaS Guidance [Yahoo! Finance]Yahoo! Finance
- Thryv Announces $40 Million Share Repurchase ProgramBusiness Wire
- Thryv Grows SaaS Revenue 24% in First Quarter 2024, Raises Full Year SaaS GuidanceBusiness Wire
- US creditors push back against some creative funding trades, Moody's says [Reuters]Reuters
THRY
Earnings
- 5/2/24 - Miss
THRY
Analyst Actions
- 3/4/24 - TheStreet
THRY
Sec Filings
- 5/2/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/29/24 - Form ARS
- THRY's page on the SEC website