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Sanchez Energy Corp. has elected to defer making an interest payment on its 6.125% Senior Notes due 2023 while it continues ongoing constructive discussions with its bondholders and other stakeholders on a comprehensive restructuring plan.
Yesterday, it was reported that Apollo Global Management is mulling an investment in the company which would wipe out its debt.
The indenture governing the 6.125% Notes provides for a 30-day grace period, which expires on August 14, 2019, to make the scheduled interest payment.
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