If the company is sold as a legal entity it changes nothing as far as a lender is concerned unless the purchaser is also going to replace the lending facility. Bain Capital who were taughted as the proposed bidder would be in a position to do this.
What it would do is get rid of KJ which is quite possibly what the lenders are trying to achieve, I know I would be. If that is the case then going forward nothing would change regarding PNC & it's financing arrangements.
Whether this is an encouraging update or a stay of execution only time will tell, at least it stops the clock ticking down on the default.
Ann: Pioneer enters Standstill Agreement with Senior Financiers, page-12
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53.5¢ |
Change
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Mkt cap ! $76.76M | |||
| Open | High | Low | Value | Volume |
| 54.5¢ | 54.5¢ | 53.0¢ | $19.98K | 37.34K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 87788 | 52.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 53.5¢ | 16849 | 1 |
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