The last 15 months have seen an incredible rotation of risk and returns and many of the names that offered opportunities last year have done phenomenally well, either because the feared drop in revenues never occurred, or because
Read MoreSo the coupon was paid and Takko merely announced the orderly presentation of financials on June 1st. Clearly,
Read MoreTakko pay coupon on the 15th of May, which this year is a Saturday - tomorrow. As per previous emails, we are sceptical about the company’s ability to make that payment and are expecting a letter instead with wording about grace periods and advanced negotiations.
Read MoreValue has been shifting this week. The commercial real estate sector received another setback from a landmark ruling in connection with the restructuring of
Read MoreWe will be posting an updated model later today, including several updates and improvements to the entity priority waterfall and additional information.
In the scheme of things the
Read MoreGiven the refi was our big exit, we have not yet updated the model / had no intention to hold the new instruments.
While we stand by all our constructive views expressed to date, tomorrow’s results should
Read More