Ann: Completion of Supply Base Sales, page-11

fyi.......


http://dev.lma.eu.com/application/files/1614/7749/3386/LMA_Guide_to_Syndicated_Loans.pdf



very very ..basic......

http://www.allens.com.au/med/pressreleases/pr19jun14.htm
and from the AFR (nov 2016)

Heavily indebted MMA Offshore is considering a restructuring proposal aimed at shoring up its balance sheet, sources said.
Street Talk can reveal the ASX-listed company formerly known as Mermaid Marine Australia is working with Moelis & Company and Gilbert + Tobin as the board proactively seeks ways to right the company's capital structure.
As reported by Street Talk, distressed debt types have been circling the Perth-based offshore oil and gas fleet services company, which has been forced to extend and amend its lending agreements with its banking syndicate twice this year. The first time was in February and most recently in August, when MMA promised to have half the $75 million it has been lent repaid by the December 31.
The latest profit warning by MMA Offshore, issued on October 17, confirmed fears that things aren't turning around quickly given the state of the oil and gas sector.

And at 14 times levered, it's not surprising MMA Offshore's balance sheet is under scrutiny. It had $318.7 million long-term debt at June 30, including loans from the big Aussie banks.

Elsewhere, it is understood National Australia Bank has traded its senior debt position in KKR-backed Bis Industries.
Sources said the $70 million slice was offloaded at about 64¢ to Bank of America Merrill Lynch, which is understood to be fronting a handful of funds, late last week.
The trade comes after specialist loan fund manager Metrics Credit Partners snapped up another portion of debt on Friday, making it the largest holder in the mine site trucking company's debt stack.
Metrics bought the debt on Thursday night, seeing off the likes of Deutsche Bank at auction. Lender sources said Metrics was focused on supporting a sensible restructure of the company.

It also comes as Bis advisers and lenders continue to haggle over a tranche of debt which is due in December.
The maturing tranche is held by a handful of parties, including Aozora Bank, Taiwan Business Bank, JPMorgan and Bain Capital Credit (formerly known as Sankaty Advisors).
As this column revealed in October, lenders have the choice of drawing down on the revolving facilities to take out that group (i.e repay them) or upgrading the group one notch to "super senior", putting it ahead of the 20-odd banks who signed up to the $1 billion deal last year.


Read more: http://www.copyright link/street-talk/moelis-gilbert-tobin-nut-out-mma-offshore-proposal-20161127-gsyebq#ixzz4kRJtXteO
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