BioGroup completed its refinancing and debt extension on May 22nd, elevating the sub bonds at 97.5% to senior secured status and extending

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BioGroup has launched an A&E for its capital structure, transitioning to an all-senior structure maturing in 2031. The existing

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Please find our updated analysis on BioGroup here.

Following the investor day in January, the reported numbers are not, in isolation, credit-relevant. That said, revenue and EBITDA came in

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Ahead of its FY25 conference call tomorrow at 1:00 pm, BioGroup released its Q4 and FY25 results. The figures came in

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BioGroup is holding a Capital Markets Day in Paris today and in London tomorrow. We do not expect to make any material changes to our model

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Please find our updated analysis on BioGroup here. 

BioGroup’s results were broadly in line with expectations, supported by the clear guidance provided by the Company. We continue to question the

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Our projections were broadly accurate, with revenue €7m higher and EBITDA €4m higher than reported. However, we continue to find

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Please find our updated analysis on BioGroup here.

Given the spread widening during the Summer, we have re-visited the investment case for a long trade. The sub bonds are attractive, and given that

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BioGroup shareholders have informally appointed Centerview Partners to explore options for an exit. This appears to be at the

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The new format of HY conference calls, which gives preference to typed questions rather than live telephone inquiries, has resulted in

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BioGroup released its Q2 results yesterday. However, with minimal commentary provided in the announcement and the earnings call not

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Please find our initiation on BioGroup here. 

Many of you have asked us to look at BioGroup following our detailed analysis on Cerba. Although BioGroup operate and is subject to

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