Our initial view is the differences between the Company and Ad-hoc proposals are not that far apart (details below) and a deal should be
Read MoreWe will be hosting a call on Victoria on Friday 22nd. Victoria Plc confirmed their previous guidance issued in early October that H2 will see
Read MoreWe will be hosting a call on HSE24 on Tuesday 19th. Bondholders organising makes sense (as reported in Debtwire). The capital structure is no
Read MoreThe rating upgrade reflects the successful completion of the refinancing at Boparan. S&P expects (agency-adjusted) EBITDA of
Read MoreASDA is targeting to finish the implementation of its IT separation from Walmart by mid-February 2025. January will be a busy month
Read MoreThe permanent closure of the Seattle wine bottle facility has a modest impact but reflects the weakness in that segment of the
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Rekeep published their Q3 numbers broadly in line with our model. Q3 is always tough regarding cash flow with a large
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The Swedish BPO reported mildly positive results for Q3 2024 as the turnaround continues. Revenues grew in 0.6% at EUR 180.7 million (vs. our expectations of
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GCP’s Q3 numbers continue the boring story of a residential REIT entity, with Rental Income and EBITDA continuing to improve
Read MoreIt appears that Brookfield are getting closer to securing financing for their take-private bid, with bonds trading up this morning. It is reported that banks
Read MoreHeimstaden Bostad got us excited this morning with what we initially thought was a tender for perpetual bonds. Alas, it is only
Read MoreA sale of Morrisons' own label bread business would bring in £75m - £85m in our analysis. Not insignificant but not a
Read MoreOver 50% of bondholders have already accepted the OHLA restructuring proposal. We expect bondholders to support the deal as the alternative is
Read MoreThe fact that the company continues to drive their agreement under the Class A Proposal is a slight setback to the Class Bs, all the more since the
Read MoreFollowing the July profit warning due to weaker OEM production levels and the upcoming RCF and bond maturities, Standard Profil reported that it had
Read MoreThe Q3 6.2% loss of TV customers from MDUs at Vodafone (Germany) can be applied to TC. The drop is sharp, but the downward slope from
Read MoreThe warning from Ranjit Boparan about rising costs in the Poultry business resulting from the recent budget will depress bond prices. The increase in
Read MoreThe downgrade to Caa2 (Negative) at Moody’s reflects the looming debt restructuring at Ardagh Group. The agency acknowledges the
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Iceland released its Q2 results, which were slightly below expectations, driven by slightly lower prices, increased marketing and timing of
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