DIC Asset - comment

The extension of the €500m Bridge has come at a price, an additional €200m repayment this month in return for extending the repayment by six months to Jun-24.  Maturity extension is preferred to liquidity. The bridge extension comes on the back of significant cuts to guidance by DIC. This news does not change our thesis on where we would see value in the 2026 notes.

https://www.dic-asset.de/en/dic-asset-ag-concludes-new-agreement-to-extend-bridge-financing-and-adjusts-forecast-for-2023/