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Stock Market & Financial Investment News

News Breaks
February 7, 2014
08:04 EDTZAZA, HESZaZa, Hess announce early lender payment requirements have been completed
ZaZa Energy (ZAZA) provided updates on certain corporate events. The company has agreed with Hess (HESS) to an early release of $15M of the companyís money held in escrow. This release was part of a broader transaction that also included termination of the companyís overriding royalty interests in certain assets in the Paris Basin, France, Hessís release of an interest in the companyís litigation against certain third parties and the payment of $3.5M of the escrowed funds to Hess. The remaining $11.5M was released to ZaZa, and these proceeds, combined with approximately $1.1M of cash on hand, were used to reduce the Senior Secured debt from $26.8M to $15M. All previously required early pay downs to the Senior Secured holders have now been completed.
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April 2, 2014
08:06 EDTHESHess Corp. at an inflection point, says BofA/Merrill
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