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UPCOMING EVENTS
Branicks 25Q3 Results Call
sarria live model
sarria analysis
corporate filings

- for speed listening, go to the settings wheel on the bottom right of the video and choose playback speed - after one minute video becomes high-resolution.

Intro, Legal and Cap Struct - 20 Mar 24

Description, Portfolio - 20 Mar 24

Liquidity, LVT, ICR - 20 Mar 24

Investment Discussion - 20 Mar 24

Featured
Aengus McMahon
Branicks - comment
Aengus McMahon

The appointment of Sodali (reported on Debtwire) is positive for the bonds. Management needs a comprehensive solution and

Aengus McMahon
Aengus McMahon
Branicks - comment
Aengus McMahon

The possibility of a partial debt-equity swap by Branicks (as reported in Debtwire) doesn’t change our fair value estimate but will

Aengus McMahon
Aengus McMahon
Branicks - comment
Aengus McMahon

The cancellation of the results announcement will weigh on the bonds, but doesn’t alter the fair value calculations. The central thesis remains that a

Aengus McMahon
Aengus McMahon
Branicks - comment
Aengus McMahon

An agreement with the EUR87m Promissory note holders was the only logical choice, but the SUNs could rise by a few points in relief. Our core thesis has

Aengus McMahon
Aengus McMahon
Branicks - comment
Aengus McMahon

The Promissory Noteholders are clearly playing hardball, but would be significantly impaired if they triggered an uncontrolled liquidation of

Aengus McMahon