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Basic Energy Services Inc (BAS.N)

BAS.N on New York Stock Exchange

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30 Nov 2016
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Tue, Oct 25 2016

BRIEF-Basic Energy Services initiates chapter 11 proceedings pursuant to restructuring support agreement

* Basic Energy Services initiates prepackaged chapter 11 proceedings pursuant to restructuring support agreement

BRIEF-Basic Energy says anticipates it will enter backstop agreement on or before Oct. 26 - SEC filing

* Anticipates that it will enter into a backstop agreement on or before October 26, 2016 - SEC filing

BRIEF-Basic Energy Services receives extension of waiver from asset-based lenders

* Basic Energy Services receives extension of waiver from asset-based lenders

BRIEF-Basic Energy Services announces progress made in discussions with creditors

* Basic Energy Services announces substantial progress made in discussions with creditors

BRIEF-Basic Energy enters a forbearance agreement with over 81% of holders of 7.75% senior notes

* Basic Energy Services enters into forbearance agreement and obtains waivers to continue deleveraging negotiations with secured lenders and unsecured bondholders

BRIEF-Basic energy services announces receipt of NYSE continued listing standard notice

* Basic Energy Services announces receipt of NYSE continued listing standard notice Source text for Eikon: Further company coverage:

BRIEF-Basic Energy to use interest payment grace period for talks

* Basic energy services announces decision to utilize interest payment grace period to continue deleveraging discussions with term loan lenders and unsecured bondholders

UPDATE 2-Shares in Dutch discount gym slide at launch

AMSTERDAM, June 10 Shares in Dutch discount gym chain Basic-Fit fell when it launched its initial public offering on Friday, despite being priced at the bottom of its pre-offer range.

BRIEF-Basic energy expects Q2 2016 revenue 8-10 pct lower sequentially

* Now expect our q2 2016 revenue to be 8 to 10% lower sequentially compared to our previous guidance of 3 to 4% lower

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