The headlines will all be about the bond tenders, but firstly, the underlying results are a little disappointing. Yes, Net debt figure is c.$100m lower than
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As expected, GCP have continued to bolster their liquidity, with €110m new bank facilities and €20m additional disposals since last reporting. This results in
Read MoreThe impact of the changes in pension contributions on Morrison's cashflows will be minimal. The headline risk is more of a concern for
Read MoreOctober inflation has come down to 4.6% spilling water on Sunak’s mills. The move is not entirely unexpected, but nonetheless positive for
Read MoreThe acquisition by United Group of Bulsatcom will not have involved significant cash outlay. Bulsatcom was purchased by Viva Corporate in
Read MoreJust after writing that this should take a little longer, we are hearing that the company have already retained Rothschilds and rumour has it that
Read MoreThe collaboration with Eclairon reflects the importance of data centres for CGG. New seismic mapping techniques mean clearer pictures
Read MoreHSBC and UBS have launched the expected €800m equivalent High Yield deal for AMS, with a call this afternoon at 4 pm UK time, with investor
Read MoreTullow have secured a 5-year debt facility from Glencore, which will be pari-passu with the “sub-2025 Notes”, and subordinated to the Senior Secured
Read MoreAt E+450 the €100m sr. sec. Loan is again expensive. It will serve incrementally in
Read MoreWith the restructuring going through the last phases of the process, we have shelved the name. As part of the accelerated safeguard plan, Orpea have
Read MoreSBB has a 12-month liquidity gap of SEK4bn, and it hopes to plug this with SEK5bn in bank loan refinance from the remaining loan to the Education business. That should
Read MoreA deal between the equity and creditors is near. The €300m equity contribution is more like €200m in fresh cash plus the €100m already pledged, but getting this
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Another headache for SBB Norden (SBB), but we are sceptical that the default notice will be enforceable as the language around the calculation of Interest
Read MoreIvor Tollefsen, the controlling shareholder in Heimstaden AB, via Fredensborg AG, has spoken to the press outlining his willingness to sell shares in Heimstaden AB as
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Today’s offer of fresh equity comes with strings attached that would shift risk back onto bondholders, in return for an underwhelming amount of fresh cash. The trickiest bit in
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