Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1
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- Stato
arkymede74
Forumer storico
arkymede74
Forumer storico
Ragazzi, ma cliff's? si sono calmate le acque?
dove vedere le quotazioni della 2040?
edit: trovato..
http://www.oblis.be/fr/bond/cliffs-natural-resources-inc-625-01102040-usd-525436
ma siamo scesi a CCC+ ??
dove vedere le quotazioni della 2040?
edit: trovato..
http://www.oblis.be/fr/bond/cliffs-natural-resources-inc-625-01102040-usd-525436
ma siamo scesi a CCC+ ??
Ultima modifica:
Fabrib
Forumer storico
http://finance.yahoo.com/news/fbi-look-suspicious-bid-avon-204729538.html
(Reuters) - The Federal Bureau of Investigation is probing the suspicious buyout bid for cosmetics company Avon Products Inc (AVP.N) by purported acquirer PTG Capital Partners, an agency official said on Friday.
The news was earlier reported by the Wall Street Journal, which said the FBI review was in its preliminary stages.
The U.S. Securities and Exchange Commission, which was running a separate civil probe, has shared information with the FBI, the report said, citing people familiar with the matter. (http://on.wsj.com/1e5Sejr)
The apparently non-existent firm on Thursday offered to buy Avon for almost thrice its market valuation.
PTG Capital Partners said in an SEC filing on Thursday that it would pay $18.75 per Avon share, sending the company's stock up as much as 20 percent.
According to the SEC's Edgar company database, PTG is incorporated in British Indian Ocean Territory, an archipelago between Africa and Indonesia with no civilian population, according to the CIA's fact book.
A spokesman for the UK Foreign Office said there was no corporate register in this territory.
Avon, whose shares were marginally up in after-market trading, said it hadn't received any takeover bid.
(Reporting by Anannya Pramanick in Bengaluru and Lindsay Dunsmuir in Washington; Editing by Joyjeet Das)
(Reuters) - The Federal Bureau of Investigation is probing the suspicious buyout bid for cosmetics company Avon Products Inc (AVP.N) by purported acquirer PTG Capital Partners, an agency official said on Friday.
The news was earlier reported by the Wall Street Journal, which said the FBI review was in its preliminary stages.
The U.S. Securities and Exchange Commission, which was running a separate civil probe, has shared information with the FBI, the report said, citing people familiar with the matter. (http://on.wsj.com/1e5Sejr)
The apparently non-existent firm on Thursday offered to buy Avon for almost thrice its market valuation.
PTG Capital Partners said in an SEC filing on Thursday that it would pay $18.75 per Avon share, sending the company's stock up as much as 20 percent.
According to the SEC's Edgar company database, PTG is incorporated in British Indian Ocean Territory, an archipelago between Africa and Indonesia with no civilian population, according to the CIA's fact book.
A spokesman for the UK Foreign Office said there was no corporate register in this territory.
Avon, whose shares were marginally up in after-market trading, said it hadn't received any takeover bid.
(Reporting by Anannya Pramanick in Bengaluru and Lindsay Dunsmuir in Washington; Editing by Joyjeet Das)
Ultima modifica:
gennaro pinto
VictoriaConcordiaCrescit
takko (la saga continua)
articolo tratto e tradotto da giornale tedesco
The fashion chain is under financial pressure
Takko: Banks cut lending
By Markus Dentz
The bonds of Takko record already long well below par, now also start the priority secured to doubt banks. According to FINANCE information, first money houses separate from their Takko loans. The Takko owners Apax is under pressure.
The situation for the recently appointed CFO Thomas Helmreich could be soon uncomfortable. The Manager, who only had replaced predecessor Hannes Rumer in January of this year, gets to do it with new lenders. As FINANCE has learned from several independent sources, unsubordinated creditors loans sold to investors. Among the hedge fund Apollo to include the buyers. The US investor was willing to FINANCE to no opinion.
The credit sale is the next level of escalation in the emerging debt drama of Takko. After the fashion discounter had reported weak numbers in the last year, broke up many investors in the bonds. The prices collapsed, since then they have recovered only slightly. Still they are dubious: the fixed coupon bond valued at 380 million euros and a coupon of 9,875 percent is currently at a rate of 47. A variable interest rate bond with a coupon of 7 percent to the value of EUR 145 million is 46.
The market reacted particularly strongly after Moody had lowered it end of November 2014 the Takko rating from B3 to a still spekulativeres Caa1. It has the leverage according to Moody reached 8 x EBITDA, with little prospect of improvement. So long, Takko pays on time its coupons, but still no trouble by the bond holders is threatening the company. The bonds expire until 2019.
Takko owners Apax scored again fresh money?
Critical, it looks for the loans. In addition to the bonds, Takko funded by an operating credit line amounting to 85 million euros and credit lines of EUR 190 million. With Argus eyes, investors watch now the Covenant dates of the company: the minimum EBITDA EUR 85 million reached Takko to the last Covenant test at the turn of the year still safe, as the news service Debtwire Analytics reported. The next test is scheduled for the summer, the requirements are: Takko must present even a minimum EBITDA amounting to 90 million euros. CFO Thomas Helmrich can not deliver, you are expected to be difficult talks with the banks and funds.
It is questionable whether the PE investor and Takko owners Apax wants to inject even fresh money. Observers doubt this, since Apax already 2013 should have shot after 100 million euros according to a Debtwire report. Meanwhile, the equity is considered extinct, the value breaks in the bonds. "Since no one will want to shoot to", it is said in Frankfurt circles. Apax had Takko end of 2012 the PE investor bought advent, the purchase price was estimated at the time at 1.2 billion euros. Apax declined to comment to Takko on request from FINANCE.
The debt-to-equity swap at Takko comes?
The main owner of Apax Partners and the management to CFO Thomas Helmreich can now only hope that will be the results of Takko in the plan. Then, also a limited bond buyback would be possible to reduce debt. Think about it the company apparently.
The weak euro could negatively however: Takko buys mainly from Asian suppliers in dollars, the currency courses run for a long time against the company. Takkos has could suffer from discounters such as Primark: FINANCE information competitors have secured more himself with currency contracts as Takko. "In the medium term, I expect also affect the topline from the currency side", says an expert on company to FINANCE. Takko did not comment on this on request.
For the case that the drama of Takko is intensifying, funds that want to take the fashion retail chain through a debt-equity swap in possession, have already expressed themselves in position. That she is, bought in the bond to control progressively larger portion of the debt, is not known, but quite likely.
articolo tratto e tradotto da giornale tedesco
The fashion chain is under financial pressure
Takko: Banks cut lending
By Markus Dentz
The bonds of Takko record already long well below par, now also start the priority secured to doubt banks. According to FINANCE information, first money houses separate from their Takko loans. The Takko owners Apax is under pressure.
The situation for the recently appointed CFO Thomas Helmreich could be soon uncomfortable. The Manager, who only had replaced predecessor Hannes Rumer in January of this year, gets to do it with new lenders. As FINANCE has learned from several independent sources, unsubordinated creditors loans sold to investors. Among the hedge fund Apollo to include the buyers. The US investor was willing to FINANCE to no opinion.
The credit sale is the next level of escalation in the emerging debt drama of Takko. After the fashion discounter had reported weak numbers in the last year, broke up many investors in the bonds. The prices collapsed, since then they have recovered only slightly. Still they are dubious: the fixed coupon bond valued at 380 million euros and a coupon of 9,875 percent is currently at a rate of 47. A variable interest rate bond with a coupon of 7 percent to the value of EUR 145 million is 46.
The market reacted particularly strongly after Moody had lowered it end of November 2014 the Takko rating from B3 to a still spekulativeres Caa1. It has the leverage according to Moody reached 8 x EBITDA, with little prospect of improvement. So long, Takko pays on time its coupons, but still no trouble by the bond holders is threatening the company. The bonds expire until 2019.
Takko owners Apax scored again fresh money?
Critical, it looks for the loans. In addition to the bonds, Takko funded by an operating credit line amounting to 85 million euros and credit lines of EUR 190 million. With Argus eyes, investors watch now the Covenant dates of the company: the minimum EBITDA EUR 85 million reached Takko to the last Covenant test at the turn of the year still safe, as the news service Debtwire Analytics reported. The next test is scheduled for the summer, the requirements are: Takko must present even a minimum EBITDA amounting to 90 million euros. CFO Thomas Helmrich can not deliver, you are expected to be difficult talks with the banks and funds.
It is questionable whether the PE investor and Takko owners Apax wants to inject even fresh money. Observers doubt this, since Apax already 2013 should have shot after 100 million euros according to a Debtwire report. Meanwhile, the equity is considered extinct, the value breaks in the bonds. "Since no one will want to shoot to", it is said in Frankfurt circles. Apax had Takko end of 2012 the PE investor bought advent, the purchase price was estimated at the time at 1.2 billion euros. Apax declined to comment to Takko on request from FINANCE.
The debt-to-equity swap at Takko comes?
The main owner of Apax Partners and the management to CFO Thomas Helmreich can now only hope that will be the results of Takko in the plan. Then, also a limited bond buyback would be possible to reduce debt. Think about it the company apparently.
The weak euro could negatively however: Takko buys mainly from Asian suppliers in dollars, the currency courses run for a long time against the company. Takkos has could suffer from discounters such as Primark: FINANCE information competitors have secured more himself with currency contracts as Takko. "In the medium term, I expect also affect the topline from the currency side", says an expert on company to FINANCE. Takko did not comment on this on request.
For the case that the drama of Takko is intensifying, funds that want to take the fashion retail chain through a debt-equity swap in possession, have already expressed themselves in position. That she is, bought in the bond to control progressively larger portion of the debt, is not known, but quite likely.
NoWay
It's time to play the game
Io non ne ho, ma ho letto quell'articolo e pensavo potesse interessare...
iguanito
Forumer storico
Intravedi qualche segnale negativo o semplicemente lucri il gain?
fabriziof
Forumer storico
la seconda ,20 punti in 3 mesi,peccato averne prese poche ,mi sembra che l'avevi risegnalato tu
iguanito
Forumer storico
Sì, è parecchio tempo che la ho infatti. io però la presi ad un prezzo più alto del tuo, prima che subisse il crollo alla fine dello scorso annola seconda ,20 punti in 3 mesi,peccato averne prese poche ,mi sembra che l'avevi risegnalato tu
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HIGH YIELD e oltre, verso frontiere inesplorate, vol.3
