There is no news from MRG yet, but it should come soon. The prices of the subsidiaries Agri Resources & Co collapse .
The price of the parent company, the
MRG and through MRG Finance itself the bond issuer , collapses by two-thirds to around 7% of the face value.
In second place
is Agri Resources at a discount of over 40% to 23%. It is followed by
Metalcorp at 11% of par and finally
R-Logitech down from 15% to 20%.
The latter two are already in the process
of being restructured. The other two are likely to follow , the courses say.
With all price information, it must be taken into account that the lows were already lower this morning and are of course also highly volatile - the time of this creation can therefore only be
a snapshot , especially since in the meantime news from Agri Resources was running on the ticker.
The trigger should / could be that the
interest due at Agri Resources 2021/26 was apparently not transferred on time at the weekend or possibly with a reverse transfer. Only readers who are affected can let us know the latter. A process that was
already known from Metalcorp last year . The ad hoc didn't come until the next day. This was explained as a formal necessity and it went into restructuring.
@AgriResources
In the meantime,
Agri Resources has clarified the interest payment (
dgap News 1334 hours).
The
Mid Term Notes 2018/23 of the financial holding MRG Finance are due in October. A
restructuring of the bond conditions as in the case of the other subsidiaries (maturity, etc.) – currently without Agri Resources – should only be a matter of time. The current courses do not express anything else. The only other plausible explanation for the
collapse of the Monegasque's entire price range would be the destocking of positions by a fund that would be heavily invested in the stocks mentioned.
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