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Arizona power plant operator Sundevil Power files for bankruptcy

WILMINGTON, Del., Feb 11 Sundevil Holdings Holdings LLC, which operates two gas-fired power plants in Gila Bend, Arizona filed for U.S. Chapter 11 bankruptcy on Thursday, according to court documents.

Negative convexity: AT1's very own doom spiral

By Helene Durand LONDON, Feb 11 (IFR) - The sell-off in Additional Tier 1 bonds has been exacerbated by a phenomenon known as negative convexity, which is putting pressure on the already shaky asset class and threatening to keep bond prices at low levels and funding costs high. When the idea of CoCos was first mooted, much fuss was made of how banks could find themselves in a downward spiral if their capital slips close to the trigger level at which the instruments either convert into s

Financials 8:34am EST

BRIEF-Hullera Vasco Leonesa resolves to open liquidation phase of insolvency

* Resolves to open liquidation phase of insolvency Source text for Eikon:

8:32am EST

BRIEF-German Pellets: court appoints preliminary insolvency administrator

* Court appoints Bettina Schmudde as preliminary insolvency administrator Source text for Eikon: Further company coverage: (Gdynia Newsroom)

3:44am EST

Caesars senior creditors threaten to tear up framework plan

CHICAGO, Feb 10 Senior creditors of Caesars Entertainment Corp's bankrupt operating unit are threatening to abandon a framework agreement and propose their own formal restructuring plan as soon as Monday, court documents showed.

EIG Pacific Holdings extends deadline for Pacific E&P tender offer

NEW YORK, Feb 10 Investment firm EIG Pacific Holdings Ltd said on Wednesday it had extended the deadline and changed some terms for its offer to buy nearly all the debt of Colombia's largest private oil producer, Pacific Exploration & Production Corp..

Arch Coal agrees deal with Wyoming for temporary cleanup relief

CHICAGO, Feb 10 Bankrupt coal miner Arch Coal Inc has reached a deal with the state of Wyoming that will provide it with temporary relief from liability for millions of dollars in future cleanup costs for coal mines, according to court documents.

Hatch presses Puerto Rico governor, U.S. Treasury on Puerto Rico

SAN JUAN, Feb 10 U.S. Senator Orrin Hatch on Wednesday demanded detailed financial disclosure about the island's economic crisis in a letter to Puerto Rico's governor, and questioned U.S. Treasury Secretary Jack Lew about debt restructuring proposals for the island during a Senate Finance Committee hearing.

UPDATE 1-Puerto Rico creditor group counters island's debt exchange offer

SAN JUAN, Feb 10 Creditors of Puerto Rico's sales tax authority, COFINA, made a counter-offer on Wednesday to Puerto Rico's Feb. 1 debt exchange proposal, saying they would extend maturities but forgo cuts to principal that the original offer would entail.

Financials, Stocks, Bonds, Markets 10 Feb 2016


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