Klockner Pentaplast (Saahil): Going back to the future, it seems that the €300 million senior notes are seeing a new buyer or set of buyers with the notes up
Read MoreThe redemption notice for the April 2025 SSNs kicks off the restructuring of Ardagh Group’s (AG) cap stack. The Apollo loan will fund this first step. The next step is
Read MoreMoody’s downgraded Altice International yesterday to Caa1, from B3 on the Secured and Caa3 from Caa2 for the unsecured bonds, with outlook on all entities changing to
Read MoreS&P reaffirmed Rekeep’s rating at B, but kept its outlook on Negative. The reasons quoted by the S&P analyst echos comments we have made in the past; a slightly improving
Read MoreA new set of creditors have organised which consist of the existing lenders (nearly twenty institutions) to the company and which have exposure to existing interest rate swaps, revolving
Read MoreIf the agreement to sell CHUM is completed, it will be a welcome cash boost for OHLA, but we have been here before. On its own, CHUM isn’t enough; OHLA will
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Last week, we had the Q1 call without the financials. Those, management promised, would be signed the same day. As of this
Read MoreThat the PPI bid for Terningen AB in Norway is all equity shows how the funding market has shifted, but the aggressive instincts in the sector are
Read MoreInto the final straight, and three becomes two. The race will likely end on Thursday, with Atos to issue a further statement on Thursday updating on
Read MoreOfwat is cracking the whip on the highly leveraged UK water sector where dividend payments are now frowned upon. It is thinking of imposing
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Post our initiation of Klockner Pentaplast, the company reported Q1 2024. Revenues of €468 million were below our estimates of €534 million driven by volume declines in
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An improving Gross Profit margin driven by further efficiencies has led to higher EBITDA. This was also aided by slightly higher volumes making the
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Q1 2024 results were saved by the vet, otherwise, it was more of the same. In a quarter (that was strong seasonably), revenues came in at €503 million which were boosted by
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The recent strikes at Morrisons did impact deliveries, and most staff at the two distribution centres (of seven) took part. The industrial action is
Read MoreOcado is about to exit the FTSE100, which will prompt some selling, but it is also suffering from short selling. The ongoing valuation row with M&S over
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