The Q4/FY numbers were as weak as expected. Allan Leighton plans to return ASDA to its position as the cheapest of the Big 4. The price drops and additional
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The return of excess funds to shareholders is now topic #1 on the AGM agenda for April. A US activist fund is pushing for the measure, which would
Read MoreAs part of Victoria’s announcement on a new CFO, the Company also commented on its refinancing proposals, stating the negotiated refinancing of
Read MoreAltice France has confirmed it has received over 90% creditor support across all tranches of its debt before the expiration deadline on
Read MoreCerba has lost its CEO, Emmanuel Ligner, who left immediately on March 14th. Mr Ligner was only appointed in March 2024, and this announcement, coupled with
Read MoreWe are staying short. The Cerba/Houlihan Lokey story isn’t disappearing. An article in Bloomberg alleges that EQT is discussing a liability management
Read MoreThe '25 holdouts have thrown in the towel. Intrum are buying out the “nuisance” by taking over the advisory fees the
Read MoreAltice France has received sufficient creditor consent to proceed with the proposed restructuring. However, they have extended the deadline to the
Read MoreUnconfirmed, but Cerba is rumoured to have appointed Houlihan Lokey to advise on its outstanding debt, which has applied further pressure to the trading level of
Read MoreMoody’s upgrade takes OHLA out of the Caa range and will allow rating-constrained investors to take positions in
Read MoreThe job cuts are mainly contractors hired for the IT project that is now ending. This is more natura
Read MoreThe pain in the debt restructuring proposal will fall mainly on the SUNs, but everyone is being asked to pitch in. The SSNs will be exchanged for new SSNs at Ardagh Group
Read MoreNothing to see here. The company is progressing towards deals with its creditors. Under the LUA it will be seeking formal approval to apply
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The FY 24 results were broadly aligned with our expectations. We expect an A&E for the bonds in H2. Devaluation of property is slowing (-6%) in 2024, but there should be
Read MoreToday, we will be hearing challenges to the A-Plan. We expect none of those to really stick. Nonetheless, Thames Water have been duly making
Read MoreRefinancing the USD/EUR notes due 2027 was raised as an option during the FY call. The new SSNs will push the maturities out to 2030. Interest costs will
Read MoreSky News carrying an article on the €30m equity injection suggests the transaction is gathering steam. We still have a notional equity position in the
Read MoreThe senior appointments made at Morrisons show CEO Rami Baitiéh stamping his authority on the business. Revamping the
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With a new CEO, Atos’s 6th in the last 2 years, the Company were unwilling to offer any guidance, instead reminding that the Company are going to hold a Capital Markets Day on
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