We doubt any SBB investors were expecting an immediate stream of dividends from the Resi business, and Sveafastigheter (the Resi business) has
Read MoreWhilst Ocado will find Tesco a formidable competitor, it is a lot further down the road in signing customers and delivering a product. Ocado opened its
Read MoreOHLA has finally sought to postpone the coupon payment beyond the EGM on 21st October. The company must still finalise its bank agreements and
Read MoreWe preferred an option that would have seen a strong institutional partner take a stake in the Resi business (rather than an IPO). Lacking anchor
Read MorePerhaps Adler has a better chance of refinancing more of that First Lien debt now that S&P are raising their rating. We are holding on to our
Read MoreAcquiring a field from Venezuela is still in the early stages. It would require export waivers from the US (the ultimate destination of much of
Read MoreThe opening bell of negotiations between Drahi and creditors has rung, with the Company/Drahi floating a proposal to the steering creditor committee. The proposal appears
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The opening bell of negotiations between Drahi and creditors has rung, with the Company/Drahi floating a proposal to the steering creditor
Read MoreFurther examination of the prospectus of Heimstaden AB's perpetual bonds has revealed the real reason for the rating request. The ratings deemed a
Read MoreKCA Deutag have announced various contract wins across their business totalling $900m, but there was no update on the take-over process
Read MoreS&P have initiated ratings on Heimstaden AB (the holding entity) with a B-. This is higher than we expected, with S&P highlighting the uncertain cash flow at AB post the suspension of dividends, resulting in interest
Read MoreYesterday, Matalan announced that Jo Whitfield, the CEO, is leaving the Company. Over the past few months, we have become increasingly
Read MoreAn extension of the coupon delay to 18th October was necessary, as the approval of the capital increase will not happen until the EGM on
Read MoreThe company has managed to roll over a £410 million revolving credit facility that was due yesterday. We believe that it is in the
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The option held by the French state to acquire the Advanced Computing, Mission-Critical Systems and Cybersecurity Products businesses of
Read MoreThe repayment of the final tranche of the bridge loan removes one maturity headache for management. We expect Branicks to have
Read MoreThe IPO price range puts the EV at SEK20bn – SEK21bn, a 24% discount to the asset value. The figure is a disappointment as we had
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