Title: The first junk bond : a story of corporate boom and bust /
Authors: Platt, Harlan D., 1950-
Publisher: M.E. Sharpe,
Year: 1994
Subjects: Milken, Michael.; Drexel Burnham Lambert Incorporated.; Securities industry Corrupt practices United States.; Junk bonds United States.
Abstract: This is the comprehensive story of Texas International Inc., a small domestic oil and gas company that needed new capital resources for growth. It turned to Drexel Burnham Lambert and Michael Milken who engineered the first junk bond issue for this company at high interest rates. The book records the unusual events that befell the company, through its corporate growth and decline, debt exchange offers, bankruptcy, and corporate rebirth as (fittingly named?) The Phoenix Resources Companies, Inc.
Contents: Ch. 1. Introduction -- pt. I. The Growth Years. Ch. 2. The Beginning. Ch. 3. The Merger with Phoenix Resources -- pt. II. The Period of Decline. Ch. 4. Reacting to Industry Conditions. Ch. 5. Egypt and the Khalda Concession -- pt. III. Death and Rebirth. Ch. 6. Three Exchange Offers. Ch. 7. Bankruptcy. Ch. 8. A Restructured Company -- pt. IV. Financial Lessons. Ch. 9. Interview with a Fund Manager. Ch. 10. Interview with a Stockholder. Ch. 11. Analyzing the Company with a Bankruptcy Prediction Model. Ch. 12. What Have We Learned? -- App. A: Oil and Gas Industry Basics -- App. B: Oil and Gas Accounting -- App. C: TEI's Four Divisions -- App. D: Industry Segments -- App. E: Sources of Finance to Oil and Gas Companies and TEI -- App. F: Oil and Gas Regulation -- App. G: Industry Conditions -- App. H: Egyptian Oil and Gas Production History -- App. I: The Khalda Concession Financial Model -- App. J: Original Khalda Concession Terms.