- Basic Energy Services (BAS) surged 11.7% in today's trade after saying it was making "substantial" progress towards finalizing the terms of a deleveraging transaction with its creditors.
- BAS says more than 81% of the bondholders of its 7.75% senior notes due 2019 again have agreed to postpone acting on a potential default while senior lenders also agreed to temporary waivers extending for another eight days through Oct. 24.
- BAS says it believes it is "close to finalizing the terms of a financial restructuring plan that will leave the company well capitalized and positioned for strong growth."