Mallinckrodt Said Determined Not To Make About $17M Interest Payment Due On June 20 To Holders Of First Lien Senior Secured Term Loans; Said Actively Evaluating Capital Needs In Light Of Obligations Under Its Opioid Settlement & Its Long-term Debt
Portfolio Pulse from Charles Gross
Mallinckrodt is reportedly determined not to make a $17M interest payment due on June 20 to holders of its first lien senior secured term loans. The company is actively evaluating its capital needs in light of obligations under its opioid settlement and long-term debt.
June 20, 2023 | 10:54 am
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Mallinckrodt's decision to not make a $17M interest payment may negatively impact its stock price in the short term.
Mallinckrodt's decision to not make the $17M interest payment indicates financial stress and potential liquidity issues. This, combined with the ongoing opioid settlement and long-term debt, may lead to a negative perception of the company's financial health, causing a short-term decline in its stock price.
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