Past year: ▼ 52%(1.90c – 23.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 June 2017capital raising announcement▼ BadMajor
EXCO paid a $27.6 million interest bill on its new 1.75-lien term loans in stock rather than cash, issuing 2.75 million shares at a 15% payment-in-kind rate (versus 12.5% cash) to preserve cash for its North Louisiana drilling program - a further sign of a company conserving every dollar.
15 Mar 2017capital raising announcement▼ BadMajor
EXCO carried out a second major out-of-court debt restructuring: it issued $300 million of new secured PIK-toggle notes and exchanged roughly $683 million of its 2015 Fairfax/noteholder second-lien loans into new '1.75 lien' term loans, issuing warrants to lenders as part of the deal - a sign the balance sheet still couldn't be fixed through ordinary refinancing.
21 Jan 2014capital raising announcement▲ GoodMajor
EXCO closed its $273 million rights offering, issuing about 54.6 million shares. Existing holders WL Ross and Hamblin Watsa took about $98.0 million and $33.6 million of it, lifting them to 18.7% and 6.4% ownership, and EXCO used the proceeds to repay credit facility debt.
25 Nov 2013capital raising announcement▲ GoodMajor
EXCO announced a planned rights offering of one right per four shares, at $5.00 a share, to raise about $272.9 million if fully exercised. WL Ross funds and Hamblin Watsa each agreed to exercise their rights and buy shares not taken up by other shareholders, within set limits.
16 July 2008capital raising announcement▲ GoodMajor
EXCO converted all of its preferred stock (Series A-1, B, C and Hybrid) into common shares, ending the cumulative-dividend obligation Oaktree and Ares held it to, and closed a separate $252 million East Texas acquisition funded by a new $300 million JPMorgan term loan.
