View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
September 17, 1990


By CBR Staff Writer

Concurrent Computer Corp, Tinton Falls, New Jersey is not goingto be able to make the $4.7m in interest payments that fell due on Friday to holders of its Senior Subordinated Notes due 1998. It says its bank group exercised its right to block payments on the notes because the company, based on its recently reported financial results, is unable to satisfy all the financial covenants of its new bank credit agreement. The mini and supermicromaker has $55m in senior bank debt and about $110m in subordinated debt outstanding. A principal payment of $15m and an interest payment of about $1.7m on the bank debt is due on September 28, and it is seeking waivers on the covenants; as reported, the ludicrously debt-laden company has retained Goldman, Sachs & Co to advise on capital restructuring.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.