A Battle In The Making: Second-Lien Vs. High-Yield Debt

Law360, New York (June 26, 2015, 10:04 AM EDT) -- In the oil and gas industry, there is a storm brewing between holders of second-lien debt and unsecured high-yield bonds. These creditor groups are finding themselves pitted against one another as oil and gas companies become increasingly leveraged in an effort to alleviate liquidity constraints....

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