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Fly News Breaks for September 1, 2016
PQ
Sep 1, 2016 | 16:06 EDT
PetroQuest announced that, although it believes that it has current liquidity sufficient to make the approximately $6.8M semi-annual interest payment due on September 1, with respect to its outstanding 10% Senior Notes due 2017, it has elected not to do so at this time, pending the outcome of its Exchange Offers and Consent Solicitation. Non-payment of this interest would become an event of default under the indenture governing the 2017 Notes if the payment is not made within 30 days.
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