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Feb
19

One Call withdraws it’s debt exchange offer

Word just in that One Call Care Management has “cancelled a bond exchange intended to rework its $2 billion debt load”. According to Bloomberg, OCCM won’t pursue the debt swap.

The swap would have allowed holders of the current second-lien notes to exchange some for first-lien notes. This would have moved the holders of first-lien notes up in the event there is a restructuring.

Don’t know if this will have any impact on the company’s ratings by Moody’s or Standard and Poor’s; will monitor and let you know.

For now, all we know is One Call attempted to restructure some of it’s debt, then withdrew the offer.


Joe Paduda is the principal of Health Strategy Associates

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