The announcement from AML this morning represents significant moves in the chess pieces. AML will use the EV powertrain technology from Lucid to drive its
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The stabilisation of the top line at Morrisons is a positive, albeit one that has not been cheap. The £420m of cash raised from sales and leasebacks in H1 was utilised in
Read MoreThe departure of Lars Schriewer as CEO should change little at Accentro. Company strategy is a product of Cevdet Caner, so nothing will change
Read MoreThe reports of bondholders retaining a legal advisor is a surprise but not a shock. Atalian has intimated that it would redeem part of the 2024 bonds, but this
Read MoreKCA has won new contracts and extensions, 2 and 5 years in length, in the North Sea, for the value of $70m. These contract wins are with
Read MoreStrange going-ons at Matalan where the company chose to pay cash coupons, but is now drawing the additional
Read MoreThe allegations of welfare issues at one of 2 Sisters farms in Lincolnshire will depress bond prices. A welfare scandal is a headache Boparan could do
Read MoreYesterday was Restructuring Effective Day as the Amsterdam District Court homologated the plan in spite of objections raised by a
Read MoreCasino is in liquidity preservation mode as it continues through the conciliation process. Casino has agreed in principle with the French government to defer Casino’s tax and social security liabilities due between May and September which
Read MoreA report in The Times suggests a potential £8.00 a share bid from Amazon, backed by Goldman and JP Morgan. If the rumoured bid by Amazon
Read MorePost the Q1 numbers, we are not changing our thesis that the underlying business is robust. However, continued high inflation (and required
Read MoreThe Swedish Financial Authority (FI) investigation is negative for bondholders. We had noted revaluations on the first consolidation which did not appear in
Read MoreMore important than the rating movements, described below, was the purchase of shares by the CFO of Tullow, which was reported yesterday. This coincided with a non-executive also buying. The amounts are
Read MoreTullow increased the size of their tender and bought back $166m of bonds at an average price of 60.05% spending $100m, in line with our expectation of
Read MoreWhitbread are reportedly auctioning off 250 pub/restaurants via a process by Goldman Sachs. Whitbread owns 440 pub restaurants, with several of
Read MorePepco are launching a €300m bond to repay their term A facility of equal size. It is interesting to see the bond market out in front of the private lenders on such a
Read MoreRallye, controlled by Foncière Euris, which in turn is controlled by Jean-Charles Naouri, holds 52% of the shares (and 64.5% of the voting shares) in Casino as a result
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Ukrainian butcher MHP wants to sell more chicken into the UK market, and as existing exporter should be capable of meeting the logistics challenges of
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