Se me escapan los motivos para semejante subida, las llevo a 0,43$ y creo que voy a vender un 50% de mi posición. Vi que entraste a 0,46$, sigues manteniendo?
Es una empresa directamente relacionada con el precio del petróleo. Aún cotiza descontando una quiebra, en 30 días tiene que pagar los intereses o pedir la bancarrota.
Yo la mantendré mi inversión era pequeña y pensaba aguantarla al menos hasta los niveles precrisis del petroleo. Si va mal pues me comeré la pérdida pero si va bien al menos obtengo un retorno importante.
#34
Re: Valaris sube un 80%
Al final he vendido el 40% de mi posicion a 2$. El 60% restante a mantenerlo hasta el cielo o hasta el infierno.
Valaris pide el periodo de gracia de 30 días para otro de sus vencimientos de pago
#36
Re: Seguimiento de Valaris (VAL)
Buenas tardes. Sabemos algo de las negociaciones para la refinanciación? Tengo entendido que en el mes de julio se decide la cuestión... Me resulta difícil pensar que dejen caer estas empresas...otra cuestión será ver en qué términos se define la reestructuración... qué pensáis? gracias
Supuestamente es el jueves día 2 cuando tienen el vencimiento de los bonos aplazados en julio. Yo estoy suscrito a sus hechos relevantes aunque he cerrado la posición pero si logra pagar el bono sin pasar por el Chapter 11 creo que volverá a subir a los niveles de semanas atrás.
Si declara el Chapter 11 game over, irá al OTC y para los minoristas poco que hacer o recuperar
Y que lineas maestras exponen en el comunicado? Ese Ingles tan business se me hace inteligible.
#40
Re: Seguimiento de Valaris (VAL)
Perdona Luis Ángel no he entrado en rankia... gracias por tu información. Un saludo y suerte. En Valaris lo tenemos complicado pero como salga bien también será para echarse unas risas....
Siguen negociando los intereses y el acuerdo con los bonistas y vuelven a renegociar un plazo de 30 días para los intereses que vencían el 15 de julio.
The development of COVID-19 into a pandemic, the actions taken to mitigate the spread of COVID-19 by governmental authorities around the world and the risk of infection have altered, and are expected to continue to alter, policies of governments and companies and behaviors of customers around the world in ways that we anticipate will have a significant negative effect on oil consumption, with measures such as government-imposed or voluntary social distancing and quarantining, reduced travel and remote work policies. At the start of the COVID-19 pandemic and related mitigation efforts, disagreements developed within OPEC+ as certain oil producers competing for market share initiated efforts to aggressively increase oil production, thereby increasing inventory levels even further.
The convergence of these events resulted in a significant decline in the demand for oil and a substantial surplus in the supply of oil in the first half of 2020, leading oil producers to cancel or shorten the duration of many of the Company's 2020 drilling contracts, cancel future drilling programs and seek pricing and other contract concessions.
As a result, the Company's earnings, cash flows and rig values were significantly, adversely impacted in the six months ended June 30, 2020. Although OPEC+ agreed in April 2020 to reduce production, the continued decreased demand for crude oil and historically low oil prices are expected to continue for the foreseeable future. Such challenging conditions had, and are expected to continue to have, a significant impact on our business, operations and financial condition in various respects, including substantially reducing demand for our services.
These events have had a meaningful adverse impact on our current and expected liquidity position and financial runway. The Company did not make interest payments due in June and July 2020 on the Defaulted Notes (as defined herein). The June 2020 missed interest payments represent a default or event of default under the Defaulted Notes. An aggregate of approximately $2.1 billion is outstanding under the Defaulted Notes. Pursuant to the Second A&R Waiver (as defined herein), the lenders under our revolving credit facility have waived certain defaults and events of default under the revolving credit facility, including in relation to the non-payment of interest on the Defaulted Notes, and pursuant to the Forbearance Agreement (as defined herein), certain holders of our senior notes have agreed to forbear from the exercise of certain rights and remedies that they have with respect to certain specified defaults and events of defaults (including cross-defaults).
The Second A&R Waiver and the Forbearance Agreement each terminate automatically on August 3, 2020. See “Note 10 - Debt” for a description of the terms of the Second A&R Waiver and the Forbearance Agreement. Based on our evaluation of the circumstances described above, coupled with significant asset impairments (See Note 6 - "Property and Equipment") and substantial borrowings on our revolving credit facility, we determined that there was a significant level of uncertainty as to whether we will be in compliance over the next 12 months with covenants to maintain specified financial and guarantee coverage ratios, including a total debt to total capitalization ratio that is less than or equal to 60%.
If we exceed the total debt to total capitalization covenant in our revolving credit facility, further borrowings under the revolving credit facility would not be permitted, absent a waiver in respect of the resulting event of default from the breach of the total debt to total capitalization covenant, and all outstanding borrowings could become immediately due and payable by actions of lenders holding a majority of the commitments under the revolving credit facility.
Any such acceleration would trigger a cross-acceleration event of default with respect to approximately $2.1 billion outstanding under the Defaulted Notes. In addition to the approximately $58.5 million of missed interest payments on the Defaulted Notes discussed above, there is substantial uncertainty whether we will pay $79.2 million of interest on other series of outstanding notes on or prior to August 15, 2020 together with the $122.9 million outstanding principal amount of our 6.875% Senior Notes due on August 15, 2020. Therefore, due to the uncertainty as to our ability to comply with our debt covenants over the next 12 months and the related potential for cross-covenant defaults, we concluded that there is a substantial doubt regarding our ability to continue as a going concern within one year after the date that the financial statements are issued. We are actively pursuing a variety of transactions and cost-cutting measures, including, but not limited to, further reductions in corporate overhead and discretionary expenditures, another potential waiver from lenders under, or amendment to, our revolving credit facility, another potential forbearance from holders of our senior notes, further reductions in capital expenditures and increased focus on operational efficiencies. We are also actively negotiating with certain holders of our senior notes and the lenders under our revolving credit facility regarding a comprehensive restructuring of our indebtedness. While there can be no assurances as to ultimate timing, we expect our restructuring is likely to be implemented imminently through cases under Chapter 11 of the U.S. Bankruptcy Code and that our restructuring may result in cancellation of existing equity interests and little or no recovery to existing shareholders.
In light of the foregoing, the unaudited condensed consolidated financial statements included herein were prepared on a going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
The consolidated financial statements do not reflect any adjustments that might be necessary should we be unable to continue as a going concern. We will continue to evaluate our going concern assessment in connection with future periodic reports.
