Matalan bonds plunge as Ebitda shrinks
UK clothes retailer Matalan’s bonds dropped sharply on Tuesday after it said Ebitda had plunged 63% in the second quarter.
The results were worse than expected Ebitda was much lower, said a high yield banker in London.
The Skelmersdale-based companys £250m 8.875% senior secured 2016 notes fell to lows of 78.34 on Wednesday, yielding 15.759%, from 84.41 on Monday.It was worse for senior unsecured investors: the ...
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