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(Bloomberg) -- Investors consider debt-exchange offers from iHeartMedia and J.Crew Group; Jack Cooper proposes a restructuring plan but may still opt for bankruptcy; Intelsat sets a redemption. Below are upcoming dates for notable distressed-debt situations in North and South America.

• IHeartMedia
  • June 23: Expiration of debt exchange for term loans and notes
  • NOTE: Form 10-Q includes "going concern” warning, 10-K discusses bankruptcy; restructuring plan would alter terms, extend maturities, cut rates, offer creditors stake in Clear Channel Outdoor; senior creditors said to rebuff loan-only swap; JCDecaux co-CEO said to be interested in buying Clear Channel; CCO warns it’s an unsecured iHeart creditor with $915m due in case of bankruptcy; Bain Capital and Thomas H. Lee Partners control iHeart
• Jack Cooper 
  • June 29: Expiration of debt restructuring offer
  • NOTE: Co. reaches restructuring agreement with debtholders; may file Chapter 11 bankruptcy if it fails to gain enough support or “the company for any reason determines that it would be advantageous;” co. loses Nissan contract, says failure to cut debt “may result in the loss of additional business”
• Odebrecht Oleo e Gas
  • June 30: Coupon payment on 6.35% notes due 2021
  • NOTE: Co. has proposed debt restructuring that S&P labels a distressed exchange, citing extrajudicial reorganization by co. and subsidiaries including Odebrecht Offshore Drilling Finance and Odebrecht Oil & Gas Finance
• Cumulus Media
  • June 30: Due date for quarterly payment on term loan
  • NOTE: Debt swap terminated after court rejects co. lawsuit seeking to compel JPMorgan to allow borrowing under credit facility to fund debt restructuring; co. says it will continue to review all available options, cites “continuing dialogue with key stakeholders”; Moody’s downgrade cites restructuring risk, lack of access to revolving credit due to covenant constraints; co. evaluates alternatives for stock listing compliance
• J. Crew Group
  • July 10: Expiration of exchange offer for 2019 senior PIK toggle notes; deadline for early tender payment is June 23
  • NOTE: Co. offers to swap 2019 bonds for new 2021 secured debt, preferreds and common stock; plans to buy $150m of term loans, raise $30m under term loan facility, sell $97m of new notes in private placement and direct agent under term loan facility to dismiss IP litigation; Mickey Drexler steps down as CEO; GSO Capital Partners buys more J.Crew debt on open market, Reuters reports; Moody’s downgrades, S&P sees distressed exchange or buyback; LBO in 2011 by TPG Capital and Leonard Green
• Intelsat
  • July 12: Intelsat Jackson revolver matures
  • July 15: Redemption date for $1.5b of 2019 Jackson notes
  • NOTE: Co.’s merger deal with SoftBank’s OneWeb collapses after failing to gain creditor approval for debt swap; co. plans to reconsider ways to fix its capital structure well ahead of any critical deadlines, says “nothing’s off the table”; S&P says capital structure may not be sustainable, but for next 12 months, sees adequate liquidity and doesn’t expect default or distressed restructuring
• Cenveo
  • Aug. 1: Coupon payment on 2019 first-lien notes
  • NOTE: CFO tells investors "our No. 1 priority right now is debt paydown,” sees possible buybacks at discount; CEO cites focus on 2019 maturities
• J.G. Wentworth
  • Aug. 8: Revolver matures
  • NOTE: Co. hires consultant to advise on capital structure and debt refinancing, can’t assure cash sufficient to pay interest and principal on debt; co. in talks with lenders about exchanging term loan for equity, getting new revolving credit facility. Filing says “we could over time be forced to seek relief under the U.S. Bankruptcy Code.” Moody’s sees “high risk” of distressed-debt swap
• Pacific Drilling
  • Aug. 14: Estimated date to report 2Q results
  • NOTE: Ron Moskovitz resigns as chairman; restructuring talks continue with largest shareholder, bank lenders, ad hoc bondholders with no consensus as of May 4; co. previously says it needs waiver or amendment by 3Q17 to comply with maximum leverage ratio covenant; co. offering creditors 98% equity stake, current shareholders 2% and warrants for 20% stake at “substantially higher strike prices” than originally proposed
• FirstEnergy Solutions
  • Aug. 15: Coupon payments on 2021 and 2039 notes
  • NOTE: Co. and parent FirstEnergy hire separate advisers for legal and finance; prospect of FES restructuring or bankruptcy discussed during parent’s earnings call; S&P cuts FES rating on expectation of 1H18 bankruptcy filing
• Claire’s Stores
  • Sept. 15: Coupon payment on 2019 and 2020 notes
  • NOTE: Co. extends Europe credit line to 2019, secures $50m loan with Angelo Gordon; 10-Q repeats that “repayment of our debt as it matures will require refinancing;" co. controlled by Apollo Global Management

To contact the reporter on this story: Rick Green in New York at rgreen18@bloomberg.net To contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net Rick Green

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News.

• Current Acct. $-123.6b; range $-150b to $-111.4b (28 estimates)
• • The current account is considered the broadest measure of international trade because it tracks good and services as well as income payments and government transfers.
  • In the fourth quarter, the current account trade deficit narrowed to $112.4 billion, the smallest since the second quarter of 2015, bolstered by a larger income surplus.

Economic Release Details: {HBBRANN Index ECOD} --BALAZS PENZ