We have seen many companies tapping the market for fund raising activities in the past couple of years and in a world of low interest rate environment, these yields are enticing to folks who are hungry for yield. The recent Swiber case has probably put an alarm on the reality of what is to come, with companies facing more distressed debt that is maturing with no capability of sufficient cashflow to refinance them. Kris Energy, an O&G producer, has a debt facility that is maturing in 2017 and they are in a position where they might default on these debt covenants. Looking at the current yield to maturity and the way the price is slammed to below par will probably tell you a telling story of where their financial position is at the moment. The other junk bonds are also being affected by these news. Some of the ...