Debt | Financial Trouble | Capital Markets
Another Large STACK Operator Hires Debt Advisors
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Chaparral Energy Inc. has hired debt advisors as the company looks to shore up its balance sheet, according to a report by Reuters.
The Oklahoma City-based company has around $401 million of debt outstanding, with its 8.75% bonds due in July 2023 currently trading at 25 cents on the dollar. The company has 121 employees at the end of December 2019. The company net debt/EBITDA a metric the industry uses is 3.5x. Another metric that shows how companies that could potentially be in danger are those where interest payments are greater than 15% of cash from operations.
The company previously filed for bankruptcy in May 2016 and exited chapter 11 in March 2017.
One would think that after the company exited bankruptcy the first time, it would be more cautious about debt. Well that is not…
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