Star Gas Recap May Quell Bondholders

McDermott, Judy
December 2005
Investment Dealers' Digest;12/12/2005, Vol. 71 Issue 47, p14
Trade Publication
The article provides information on the financial performance of the heating company, Star Gas Partners LP. It states that the company is on the verge of stabilizing its economic position and its relationship with its bond holders in this year. The company announced on December 5, 2005 that it is entering into a recapitalization that includes $50 million in equity financing from private equity firm Kestrel Energy Partners and affiliates. As part of the transaction, Star Gas will use the $50 million in equity financing along with additional funds to repurchase $60- $73.1 million in face amount of the senior notes. This will result in the strengthening of the partnership's and help the company in meeting its liquidity and capital requirements.


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