Structured Finance and Securitization partner Stanford Renas was quoted in a Reuters article on how energy and energy services companies are raising debt to repay some of their existing revolving credits to match lower borrowing bases, which have been decreased due to the drop in oil prices. Some companies are selling second-lien high yield bonds to repay some of its revolving credits. "Second-lien lenders are out there for the right price," Stan commented. In relation to how some energy companies are also considering convertible bonds, Stan said, "Some people are talking about convertible debt offerings. I'm not aware of that many opportunities, but it's being explored." ("TRLPC: Energy Companies Raising Debt to Repay Revolvers," March 6, 2015)