Have you suffered losses investing in FTS International 6.250% Senior Secured Notes? If so, The White Law Group may be able to help.
According to their website, FTS International (FTSI) is the largest private well completion company in North America. They provide comprehensive well completion services, including pressure pumping, wireline and reservoir optimization technologies.
FTS International, Inc. announced June 1st the commencement of a cash tender offer to reduce the level of the Company’s indebtedness. The Company offered to purchase its outstanding 6.250% Senior Secured Notes due 2022 and concurrent offer to repay its Term Loan due 2021 . The aggregate maximum amount of cash that the Company will use to purchase Notes and/or repay its Term Loan in the Offers is $50,000,000.
High-yield bonds—also called non-investment-grade bonds, speculative-grade bonds, or junk bonds—are bonds that are rated below investment grade, typically ‘BB’ or lower by Standard & Poor’s and ‘Ba’ or lower by Moody’s. They pay high yields to bondholders because the borrowers credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds carry an above average risk that the issuer will default on the bond. The increased risk makes them arguably unsuitable for many investors.
Brokerage firms that sell such products are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, and investment objectives. Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim.
If you suffered losses investing in FTS International 6.250% Senior Secured Notes 05/1/22 and would like a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
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