Williams

Essay specific features

 

Issue:

Business

 

Written by:

Merle K

 

Date added:

September 27, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 1072

 

Was viewed:

5143 times

 

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Essay content:

Prior to the spinoff of Williams Communication Group (WCG), the telecommunication subsidiary of Williams, Williams converted a $975millon promissory note from WCG into 24.3million newly issued shares of WCG equity to strength its balance sheet. In addition, Williams provided indirect “credit support” for $1...
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In addition, Williams provided indirect “credit support” for $1.4 billion of WCG’s debt to make available proceeds of an equity issuance in the event of a WCG default or WCG’s inability to raise financing to replace maturing debt. This guarantee later cost Williams $1.3 billion following a disclosure by WCG that it might seek to reorganize under the U...
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