Agrokor’s bonds now ‘distressed’ as hidden debt rumours blight firm
Croatian retailer Agrokor’s debt hit distressed territory this week after rumours of hidden debt and a Moody’s downgrade spooked the buy-side. Clarity is unlikely until a forensic audit of the issuer is completed, say experts.
Agrokor’s euro bonds maturing 2020 hit a cash price of 33 to yield 71% on Thursday, down from 64 on March 23. Croatia’s sovereign curve also widened in response.Agrokor has a total of €942m Eurobonds outstanding and loans totalling €1.59bn. Adding
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com