Goodrich SEC Filing...Senior Notes
Market Reaction to today's SEC filing by Goodrich wasn't good...here's the filing:
On September 2, 2014, Goodrich Petroleum Corporation (the “Company”) notified the holders of the $51,816,000 outstanding principal amount of its 5.00% Convertible Senior Notes due 2029 (the “Notes”) that they have an option, pursuant to the terms of the Notes, to require the Company to purchase on October 1, 2014 all or a portion of such holders’ Notes (the “Put Option”) at a price equal to par, plus any accrued and unpaid interest to, but not including, October 1, 2014.
The Put Option expired at 5:00 PM ET on September 30, 2014. As of the expiration of the Put Option, $45,124,000 aggregate principal amount of Notes were validly tendered and not validly withdrawn pursuant to the Put Option. The Company has accepted for purchase all Notes that were validly tendered and not validly withdrawn pursuant to the Put Option.
The Company settled the Put Option on October 1, 2014 and paid an aggregate of $45,124,000 to purchase all of the Notes that were validly tendered and not validly withdrawn. Immediately following the settlement of the Put Option, $6,692,000 principal amount of Notes remain outstanding.
To Learn More about what is happening in the TMS, check out our Friday Report each week!
Here is last Friday's Report:
http://tmshorizons.com/index.php/tms-news/2014-news/september/friday-report-09-26-2014/
