The McClatchy Company · Corporate
The McClatchy Company: bankruptcy, 2020
The McClatchy Company: bankruptcy credit event on 2020-02-13, worked through from its SEC filings. The 9.000% Senior Secured Notes due 2026 (CUSIP 579489AL9) are a Deliverable Obligation: all 7 checks pass. Each result cites the clause behind it, or says when it rests on the absence of a clause.
Verified answerThe McClatchy Company · Bankruptcy · 2020
Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
Yes, deliverable
9.000% Senior Secured Notes due 2026 pass all 7 checks, each tied to its clause.
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Verified outcome
Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.
Source clauses
- Reference entity
- The McClatchy Company
- Credit event
- Bankruptcy · 2020-02-13
- Entity type
- Corporate
- Documents
- 2 in the record
Instruments
Each obligation has its own page with terms and questions.
The McClatchy Company · CUSIP 579489AL9
8 questions
Questions and verified answers
Open a question for the verified answer, its basis and how it was checked. Clause links open the documents below.
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
Indenture of 2018-07-16
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
Indenture of 2018-07-16
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
Indenture of 2018-07-16
- #5 Does the instrument meet the Not Bearer characteristic?Yes
Indenture of 2018-07-16
- #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?YesNone: no clause making principal contingent was found.
- #7 Does the instrument meet the Transferable characteristic?YesNone: no clause restricting transfer was found.
- #8 Is the issuer of the instrument the Reference Entity?Yes
Indenture of 2018-07-16
Documents
The case record. 8 sections support the verified answers.
- DOC-1 McClatchy 8-K filed 2020-02-13, Item 1.03 Bankruptcy, petition 2020-02-13excerpts
- DOC-2 Indenture dated July 16, 2018, 9.000% Senior Secured Notes due 2026 (EX-10.4 to Form 10-Q filed 2018-08-09)excerpts
Timeline
- 2018-07-16Indenture for the 9.000% Senior Secured Notes due 2026 (filed as Exhibit 10.4 to the Form 10-Q for the quarter ended 1 July 2018).
- 2020-02-13The McClatchy Company and certain subsidiaries file voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of New York.
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