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's rights offering closed, raising about $273 million through 54.6 million new shares; WL Ross and Hamblin Watsa took roughly $98 million and $34 million of that respectively, becoming major new shareholders alongside existing holders who also participated.
25 Nov 2013capital raising announcement▲ GoodMajor
EXCO lined up Wilbur Ross's WL Ross funds and Fairfax Financial's Hamblin Watsa to backstop a rights offering to existing shareholders, bringing in two well-known value investors to help refinance the balance sheet after the TGGT sale.
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.
