On Friday, November 13, CENX announced it was successful in completing the solicitation of consents to amend the indenture governing a portion of the company's notes to modify certain events of default relating to certain bankruptcies and insolvencies.
I have seen this in recent filings, and even in the company I work for, where the state of the economy has left many companies nearing defaults on covenants. The need for more "relaxed" covenants is growing and growing as the economy has still not fully recovered.
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