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Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
High yield issuers may be worried about market access, but some do not see them losing it
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A year on from the closure of its flow equity trading business, Deutsche Bank’s investment bank is back in a bullish mood after performing well during the first stage of the coronavirus crisis. -
Cabot Credit Management has launched a €300m refinancing following the reorganisation of its corporate structure to combine its balance sheet with its parent Encore Capital and boost the group’s financial firepower.
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KKR-owned vending machine company Selecta was one of the first companies to have its owner inject super-senior ‘priming’ debt once the Covid crisis hit, pushing bondholders down the capital structure. But in its restructuring package laid out on Tuesday, KKR reversed this aggressive move, offering a creditor-friendly proposal that sent the bonds up 11 points.
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Ford, the US car maker, offered investment grade bond investors the chance to dip into high yield on Tuesday, while its rival Nissan Motor is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.
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Europcar will be a test case for the treatment of government-guaranteed loans during a restructuring, as the French car rental company was among the earliest and largest users of the French state’s corporate support scheme.
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Cabot Credit Management has launched a €300m refinancing following the reorganisation of its corporate structure to combine its balance sheet with its parent Encore Capital and boost the group’s financial firepower.
