According to the documentation, the 1Os should be paying a mix of PIK and Cash when above €600m. However, the situation on

The replacement of Nicole Charrière was expected, although we like that she will be staying on to transfer affairs in order. What we very much welcome, however

We are not sure exactly what today’s announcement meant to convey, but the 2) paper is fully subscribed now. Of all remaining

Selecta are moving fast with the implementation. The Exchange Offer Memo is out (for holders only). The offer is set to expire in

First thoughts this morning are that we are paying a lot for an equity layer that is structured as a mere option. Liquidity seems adequate, the

So we missed the subtitles the other day. The restructuring is agreed. As far as we interpret the cryptic note, substantially all bonds will equitise via

Ratings at this stage are secondary, but interestingly, and perhaps rightly, S&P do not care about grace period extensions. The SSNs have now been

We understand the company has not paid coupon this month. We have been expecting negotiations to