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Issuers
Grate maker files for bankruptcy
Thursday, February 4, 2010
Neenah Enterprises and its subsidiary Neenah Foundry filed for chapter 11 bankruptcy yesterday having secured $140 million of debtor-in-possession finance. The company, which makes grills for drains and other castings, said it has agreed a restructuring with creditors that will reduce its debt by $220 million.
The company, which is based in Neenah Wisconsin, had missed a coupon on its bonds on 31 December, the grace period for which expired at the end of January.
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Trading
Funds
Structured
CFlux secondary
CLO index levels:
| Index | 6 Feb |
|
| CFlux USD AAA | ↑ | 94.9 |
| CFlux USD AA | ↓ | 81.3 |
| CFlux USD A | ↓ | 75.0 |
| CFlux USD BBB | ↑ | 74.8 |
| CFlux USD BB | ↑ |
72.1 |
| CFlux USD EQ | ↑ | 67.6 |
Glad to see that through a restructuring they have avoided their entire business going down the drain - boom boom !!