fedro10
è la somma che fa il totale...
ma dove vedi +12% mi sembra ferma esattamente come ieri grazie
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1
- Creatore Discussione TRADING_IDEAS
- Data di Inizio
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ma dove vedi +12% mi sembra ferma esattamente come ieri grazie
Bombardier Workforce Reduction Is Credit Positive
Last Friday, Bombardier Inc. (B2 stable) said that it would cut about 10% of its global workforce as part of a five-year turnaround plan. Coupled with previously announced efforts, the jet and rail equipment manufacturer plans to reduce headcount by about 14,500 from the 70,900 workers it had at the end of 2015. The job cuts are credit positive, providing as much as $600 million a year in savings by 2018, and showing the company’s long-term focus on a turnaround. The savings are material for a company that expects to consume $1.15-$1.45 billion of cash this year and has $9.0 billion of debt. It should also help Bombardier reach its target consolidated EBIT margin of 7%-8% by 2020, versus 5% now. The announced job cuts follow Bombardier lowering in September its 2016 delivery forecast for its CSeries jets to seven aircraft from 15 as a result of delivery delays by engine supplier Pratt & Whitney. Bombardier said the diminished deliveries would result in additional cash consumption of about $150 million. Before reaping the savings on lower compensation costs, the Quebec-based company will take $225-$275 million in charges related to the job cuts, which it expects to report in the fourth quarter of 2016 and continuing into 2017. However, the company’s more concerted focus on its turnaround plan is a positive development during a time when the business-jet market continues to soften and the production of the single-aisle CSeries commercial jet is delayed. Bombardier’s annual revenue for 2015 was $18.2 billion. Bombardier’s adjusted leverage of 11x as of 30 June 2016 is very high for its rating and we expect that the company’s free cash flow will remain consumptive at least through 2017. As a result, we see Bombardier’s liquidity as vitally important and strong enough to digest the combined $450 million of incremental cash usage tied to the job cuts and delay in engine deliveries. The company had $3.34 billion of cash and $1.0 billion of available revolving credit facilities as of June and is unlikely to need access to the capital or bank markets until the end of 2018. Until then, we expect that Bombardier’s free cash flow will improve as the CSeries ramps up toward its targeted breakeven in 2020, and the Global 7000 program, its new clean sheet ultra-long-range business jet, approaches entry into service in the late 2018 time frame.
Last Friday, Bombardier Inc. (B2 stable) said that it would cut about 10% of its global workforce as part of a five-year turnaround plan. Coupled with previously announced efforts, the jet and rail equipment manufacturer plans to reduce headcount by about 14,500 from the 70,900 workers it had at the end of 2015. The job cuts are credit positive, providing as much as $600 million a year in savings by 2018, and showing the company’s long-term focus on a turnaround. The savings are material for a company that expects to consume $1.15-$1.45 billion of cash this year and has $9.0 billion of debt. It should also help Bombardier reach its target consolidated EBIT margin of 7%-8% by 2020, versus 5% now. The announced job cuts follow Bombardier lowering in September its 2016 delivery forecast for its CSeries jets to seven aircraft from 15 as a result of delivery delays by engine supplier Pratt & Whitney. Bombardier said the diminished deliveries would result in additional cash consumption of about $150 million. Before reaping the savings on lower compensation costs, the Quebec-based company will take $225-$275 million in charges related to the job cuts, which it expects to report in the fourth quarter of 2016 and continuing into 2017. However, the company’s more concerted focus on its turnaround plan is a positive development during a time when the business-jet market continues to soften and the production of the single-aisle CSeries commercial jet is delayed. Bombardier’s annual revenue for 2015 was $18.2 billion. Bombardier’s adjusted leverage of 11x as of 30 June 2016 is very high for its rating and we expect that the company’s free cash flow will remain consumptive at least through 2017. As a result, we see Bombardier’s liquidity as vitally important and strong enough to digest the combined $450 million of incremental cash usage tied to the job cuts and delay in engine deliveries. The company had $3.34 billion of cash and $1.0 billion of available revolving credit facilities as of June and is unlikely to need access to the capital or bank markets until the end of 2018. Until then, we expect that Bombardier’s free cash flow will improve as the CSeries ramps up toward its targeted breakeven in 2020, and the Global 7000 program, its new clean sheet ultra-long-range business jet, approaches entry into service in the late 2018 time frame.
Guarda il campo sulla destra realtime, con indicazione denaro/lettera....lettera alle 7,38 del 28 ottobre a 87..
Stesso andamento la US45824TAG04
Intelsat Jackson Holdings S.A. Anleihe: 7,250% bis 01.04.2019 | Anleihe | Bond | A1GYZ6 | US45824TAE55
fedro10
è la somma che fa il totale...
gentilissimo.....
fabriziof
Forumer storico
Su finra vedo scambi a 80 ,sui bond usa poco liquidi non fidatevi delle borse tedesche
fedro10
è la somma che fa il totale...
Provato a farli censire da IW ma:
US45824TAE55 Intelsat Jackson Holdings S.A. Anleihe: 7,250% bis 01.04.2019 piazze tedesche IW picche
US466355AF15 JACK COOPER HLDGS totalmente illquido
USU0942LAA99 BlueLine Rental Fin, 7% 1feb2019 totalmente illquido
US45824TAE55 Intelsat Jackson Holdings S.A. Anleihe: 7,250% bis 01.04.2019 piazze tedesche IW picche
US466355AF15 JACK COOPER HLDGS totalmente illquido
USU0942LAA99 BlueLine Rental Fin, 7% 1feb2019 totalmente illquido
fedro10
è la somma che fa il totale...
quello che ora è illiquido, non vuol dire che oggi pomeriggio o domani non sia liquido.
fedro10
è la somma che fa il totale...
peccato speravo prorpio di prenderne un pò....
fabriziof
Forumer storico
Che cosa è partito ,?
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