Blow to Schuldschein exuberance as Carillion staggers

In just three days this week, Carillion, the UK construction and support services group, lost 70% of its value, prompting fears of a debt-to-equity swap. This anguish comes only five months after Carillion raised €112m in the Schuldschein market, which is unused to defaults, write Silas Brown and Jon Hay.

  • By Jon Hay, Silas Brown
  • 13 Jul 2017

Carillion's market capitalisation has shrivelled from £830m at the end of last week to £240m, after it declared an £845m provision against bad contracts on Monday and the departure of its chief executive Richard Howson.

The problems are so severe that unrated Carillion's ability to repay its debt ...

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Global Syndicated Loan Volume

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5 BNP Paribas 4,132.76 19 5.47%

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3 ING 31.21 74 5.90%
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5 Deutsche Bank 21.89 32 4.14%