The SSN price may be marked lower than the 64.5% from yesterday, but as the S&P rating is still B, forced selling should
Read MoreToday’s statement confirms what we have said since we took our position. At year’s end, Synthomer would have been close to its
Read MoreEarlier this month, we commented on the appointment of FTI to advise the banks. Now, we are seeing that this will include an
Read MorePress reports that Lenders have appointed FTI as advisors is a logical next step, and we expect the noteholders to do the same. We are retaining our
Read MoreWe have heard press reports that the company is working with Rothschild on refinancing its debt (including a possible equity raise). We see this
Read MoreWe think the equity raise is being pushed on Synthomer by its banks. Synthomer required a receivables loan from its main shareholder to
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We will not be closing our short yet. The Winter Statement put EBITDA below guidance (c£142m), but above our estimates (which excluded
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Synthomer Client Call is now available on Synthomer’s page.
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