Bankruptcy & Restructuring News Headlines for Thursday Nov 16, 2023

Here's what we are reading this morning:

Rivian (RIVN) ‘Phantom Bonds’ Aimed at Getting Property Tax Break in Georgia - Bloomberg: Electric-vehicle maker Rivian Automotive Inc. released what would usually be a startling announcement for the municipal-finance market: A potential $15 billion bond for a Georgia campus, that would in theory be the largest ever muni sale and nearly the size of the company’s market cap.

Celsius Bankruptcy Transformation Depends on SEC’s Blessing: Celsius recently secured court approval to emerge from Chapter 11 as Fahrenheit LLC, a public crypto mining company that would include a crypto “staking” division. But before it can implement the plan, it needs a green light from the SEC as well. Without the regulator’s blessing, Celsius says it may be forced to liquidate, which would hurt creditors’ recoveries.

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