Pro Gest - comment

Last time we checked, the bonds had largely traded and had become illiquid. The name, therefore, has been on the shelf for a while now, but we are nearing restructuring conversations. Following its difficulties pre-pandemic, Carlyle stepped in structurally sr. to refinance much of the Italian debt and provide financing for further M&A. Bonds mature end of next year and the company has hired GS to advise on refinancing options.