Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

[IL MARATONETA]

Rimborsato
Tupperware Brands, 4.75% 1jun2021, USD
US899896AC81

 

[IL MARATONETA]

FRANKFURT, Dec 7 (Reuters) - German perfume retailer Douglas is preparing for a financial restructuring in 2021 as the COVID-19 pandemic hits its business and its debt nears maturity, two people familiar with the matter said.
Once the important Christmas season is over, the company will kick off talks with its creditors on options including a refinancing, a deal to amend and extend maturities or a debt-for-equity swap, the sources said.
Douglas’ outstanding loans and bonds mature from February 2022. In total, the company’s net debt stood at 2.1 billion euros ($2.5 billion) as of June 2020.
“We will therefore begin refinancing on a regular basis in the coming year,” a Douglas spokesman said, declining to comment further.
The company’s owner, private equity firm CVC, is willing to inject additional equity, if needed, to safeguard its investment, the sources said, adding that Lazard is acting as restructuring adviser.

Su Stoccarda scende a precipizio bid a 54

 

[IL MARATONETA]

Su Stoccarda scende a precipizio bid a 54

Douglas in ripresa, sempre a Stoccarda bid a 67.
Le occasioni ci sono ogni giorno, in questo caso il titolo è stato fatto precipitare sulla notizia della ristrutturazione.

 

[Maio72]

Rimborsato
Tupperware Brands, 4.75% 1jun2021, USD
US899896AC81

Non ci ho creduto. Chi è entrato sui minimi ha fatto proprio un bel gain. Complimenti. Uscito intorno a 95/96 ho switchato su Bahamas

 

[m.m.f]

Egypt wants to get its local debt settled by Euroclear Bank SA in less than a year and introduce its first floating-rate bonds by mid-2021, part of a push to cut borrowing costs and stoke rebounding demand for its notes.
A deal with Belgium-based Euroclear will mean a “safe gateway” to the market for “big-ticket investors such as central banks and increase demand and liquidity by expanding our investor base,” Finance Minister Mohamed Maait said in an interview. Foreigners currently have to go through local lenders to invest in Egyptian debt.
After Euroclear negotiations began in 2018 and an earlier target passed, “the legal requirements now are roughly done,” according to Maait, who spoke at his Cairo office. The date for completion: “Inshallah, between September to November 2021.”
Foreigners have pumped billions of dollars into Egypt’s debt market since late 2016, when authorities devalued the currency as the opening salvo of a sweeping economic program backed by a $12 billion loan from the International Monetary Fund. With high interest rates and a stable pound, the North Africa nation became a darling for emerging-market investors.
Foreign holdings in Egypt debt have staged a comeback
Source: Egypt's Finance Ministry
Flows reversed when the pandemic hit, with foreigners removing $20 billion from Egypt’s market in spring 2020, sending the total plummeting to $9 billion, Maait said. A rebound that started in June has seen those investments hit $24 billion in November, according to the minister, spurred by high real yields and a fresh agreement with the IMF.
Another draw might be the listing of Egyptian notes on JPMorgan Chase & Co.’s Government Bond Index for Emerging Markets, which attracts investments from passive funds that track the gauge. Authorities began talks on inclusion about 18 months ago and the work on Egypt’s side has been completed, according to Maait.
“We are ready but due to Covid-19, JPMorgan has put a hold on any new inclusions,” he said. “So we are waiting to hear from them.”
Authorities are also planning to entice a new class of investors by issuing Egypt’s first floating-rate bonds. Discussions are underway on which of several benchmarks, including the central bank’s corridor rate, the notes could be linked to, Maait said.
Egypt is also planning the country’s debut sovereign Islamic bonds, or sukuk, in 2021.
“If parliament approves the sukuk draft law before February, we could issue our first sukuk before June,” according to Maait. Egypt could also tap the international bond market in the first half of 2021, if needed, he said. BBG

... interessante io ho la scadenza 2040 presa a fine agosto a 96,e di nuovo a 100 tondi. Cedola 6,875 un buon prendere su un governativo. Adesso costano troppo...

 

[fabriziof]

Continua il rally di Revlon 2024 ,più 200% in un mese

 

[Cat XL]

Continua il rally di Revlon 2024 ,più 200% in un mese

Dove vedi? Stai parlando forse dell'azione. Che ha avuto un rally allucinante sebbene sia pressoche' fallita.

 

[fabriziof]

Dove vedi?

Su finra, 10 fine ottobre 30 oggi

 

[Cat XL]

Su finra, 10 fine ottobre 30 oggi

Si anche il bond ma inspiegabile e' l'azione.

 

[Fabrib]

United States Steel Corp. has agreed to acquire the remaining 50.1% stake in Big River Steel LLC for $774 million, giving the steelmaker ownership of one of the newest, most advanced steel mills in the country.
Ownership of Big River’s Osceola, Ark., mill will give U.S. Steel access to the same production process used by competitors Nucor Corp. and Steel Dynamics Inc., two of the most profitable companies in the domestic steel industry. The company has said the acquisition is the centerpiece of its drive to raise profit by investing in electric furnaces that melt scrap, which are known in the steel industry as minimills.
U.S. Steel bought a 49.9% stake in Big River in October 2019 for $700 million with an option to acquire the rest of the company within four years. Higher steel prices in recent months have helped U.S. Steel raise enough cash to complete the purchase sooner than expected, a person familiar with the matter said.
The spot-market price for coiled sheet steel in the U.S. has rallied to $856 a ton on Monday from below $500 a ton this summer, as a rebounding manufacturing sector ramps up orders. “The timing is just right for us,” U.S. Steel Chief Executive David Burritt said during a conference call Tuesday.
Shares were up 7.8% at $18.55 in morning trading.
WSJ