Key Developments: Boart Longyear Ltd (BLY.AX)

BLY.AX on Australia Stock Exchange

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3 Jul 2015
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Latest Key Developments (Source: Significant Developments)

Boart Longyear Limited announces changes to its board
Sunday, 22 Feb 2015 09:00pm EST 

Boart Longyear Limited:Says that Barbara Jeremiah and Roy Franklin will be retiring from the Board, and Marcus Randolph and Bret Clayton will be joining the Board following the recent completion of the recapitalisation transactions.Randolph also will assume the responsibilities of Board Chair from Jeremiah at the time of his appointment.All of the changes will take effect on Feb. 25, 2015.  Full Article

Boart Longyear Limited launches A$103.4 million pro rata traditional renounceable rights issue
Wednesday, 17 Dec 2014 08:00pm EST 

Boart Longyear Limited:Announces pro rata traditional renounceable rights issue of 0.9798 fully paid ordinary shares in Boart Longyear for every fully paid ordinary share held.New Shares under the Rights Issue are being offered at a price of A$0.1656 per New Share (Offer Price) to raise about A$103.4 million.The net proceeds of the capital raising will be used to reduce the company’s net debt and provide Boart Longyear with greater liquidity as the company manages through a challenging operating environment.  Full Article

Boart Longyear Limited announces successful tender for $105 million Senior Secured Notes
Wednesday, 5 Nov 2014 03:00pm EST 

Boart Longyear Limited:Says that it has successfully tendered for $105 million principal amount of its 10 pct. Senior Secured Notes, which are due in Oct. 2018.Says the principal amount of the tender will be funded via proceeds from a $105 million term loan provided by Centerbridge pursuant to the recapitalisation transactions announced by the company on Oct. 23, 2014.Says redemption of the tendered notes and corresponding funding of the Tranche B term loan is expected to occur on Nov. 7, 2014.  Full Article

Boart Longyear ltd does not declare dividend
Monday, 25 Aug 2014 11:00pm EDT 

Boart Longyear ltd:Says that no dividend has been determined for either of the half-years ended june 30, 2013 or June 30. 2014.  Full Article

Boart Longyear awarded contract for natural gas storage facility in Western United States
Thursday, 21 Aug 2014 10:00am EDT 

Boart Longyear ltd:Says it has been awarded a contract on Aug. 1, 2014 for drilling services at the Magnum NGLs (Natural Gas Liquids) Storage Project at central Utah's Western Energy Hub.Magnum is building the first underground salt cavern NGLs storage facility in the Rocky Mountain region at the site, located 10 miles north of Delta.Development will include the construction of solution-mined storage caverns in a salt dome about 3,000 feet below the natural surface.  Full Article

Moody's downgrades Boart Longyear Ltd's debt ratings
Wednesday, 18 Jun 2014 07:53pm EDT 

Boart Longyear Ltd:Says that Moody's investors services has reviewed the company's debt ratings and revised them, as follows.Corporate family rating and probability of default rating – downgraded to Caa1 and Caa1- PD from B3 and B3-PD, respectively.Guaranteed secured note rating – downgraded to B3 from B2.Senior unsecured note rating – unchanged at Caa2.Speculative grade liquidity rating – downgraded to SGL-4 from SGL-3.  Full Article

Boart Longyear Ltd does not recommend final dividend
Wednesday, 16 Apr 2014 07:53pm EDT 

Boart Longyear Ltd:Says that no dividend was determined for either of half-years ended June 30, 2013 or Dec. 31, 2013.  Full Article

Standard and Poor's downgrades Boart Longyear Ltd's debt ratings
Thursday, 6 Mar 2014 05:59pm EST 

Boart Longyear Ltd:Says that Standard and Poor's Ratings Services has reviewed the its debt ratings and revised them, as follows.Corporate Credit rating – Downgraded to “CCC+” from “B”.Secured note rating – Downgraded to “B” from “BB-”.Senior unsecured note rating – Downgraded to “CCC+” from “B”.  Full Article

Boart Longyear Ltd not to declare dividend for period ended December 2013
Sunday, 23 Feb 2014 07:00pm EST 

Boart Longyear Ltd:Says the Board considers it appropriate not to declare a dividend for the period ended Dec. 31, 2013.  Full Article

Boart Longyear Ltd appoints Jeffrey Olsen as chief financial officer
Monday, 6 Jan 2014 07:03pm EST 

Boart Longyear Ltd:Says that Jeffrey Olsen will be joining the company as its chief financial officer effective Apr. 1.  Full Article

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