captain sparrow
Forumer storico
neache proprio male il 1Q. il secondo e terzo mi sa saranno peggio
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2
- Creatore Discussione gionmorg
- Data di Inizio
salice02
Forumer storico
United Airlines Cancels $2.25bn Bond Deal on the Back of Weak Demand
Amid the volatility experienced by airlines around the world, United Airlines (UA) abandoned its attempt to raise a debt of $2.25bn through a bond issue on Friday, May 8. The debt raising was announced just two days prior on Wednesday, May 6, with an aim to repay a bank loan availed in March this year. The collateral for the bond issue was 360 UA owned aircraft representing 40 percent of its fleet. The share price of UA has dropped by a huge 71% amounting to a drop of $15bn in its equity value from the start of this year. Earlier in the week, Warren Buffett had sold all his airlines stock including United, American, Delta and Southwest airlines worth more than $4bn indicating a changed strategy which added to the drop in the share prices of the airlines.
Due to the lockdown as a result of the pandemic, the passenger revenue has plunged to zero which led to a pre-tax loss of $2.1bn in the first quarter. This is crucial to the airlines as it already has a $23.3bn debt and has been losing $50mn per day from the first day of the second quarter. The company has already applied for a federal bailout package and is likely to trim its workforce hugely to compensate for the losses.
Delta had borrowed $5bn previously in April based on a collateral of routes and aircraft slots. Despite the US companies raising $500bn since late March and around $95bn in the past one week, United’s attempt to raise debt has suffered a blow. One reason for this could be the high cost of capital probably as some of the investors and analysts believe that the collateral offered by the United is much lower in value than the amount demanded. The interest required to get investors on board was about 10 percent which forced the airlines to reconsider its decision.
In other news, Colombia’s Avianca airlines filed for Chapter 11 bankruptcy on Sunday. Avianca was Latin America’s second-largest airline.
mikim
Forumer attivo
Grazie ugualmente, oggi mi è passata a 55
fedro10
è la somma che fa il totale...
gualberto
Charlie don't Surf
Mi risulta una equitizzazione del debitoFrontier inaspettatamente pimpante rispetto alle ultime settimane. Probabile venga comunicato qualcosa a breve (anche perchè il 16 scadono i 60gg del grace period...)
ho preso dole foods cosi a casa non mancheranno le banane
fabriziof
Forumer storico
Che deve essere communicato? È giá in ch 11.Frontier inaspettatamente pimpante rispetto alle ultime settimane. Probabile venga comunicato qualcosa a breve (anche perchè il 16 scadono i 60gg del grace period...
