Reorg exclusively reported the terms for INR 7.5 bn non-convertible debentures that India Cements plans to issue to meet its capex and working capital requirements. The company has mandated Nomura and Bank of America as lead arrangers.
ow.ly/5rer50Rgp7c
#performingcredit
Greenko Energy's USD senior notes have underperformed recently, due to factors such as lower yields and higher supply risk of a new issuance.
ow.ly/zxEr50RgpL8
#performingcredit
Read our story, published yesterday for subscribers, which explains how KKR’s proposed acquisition of TIM’s fixed line network would be impacted by the covenants in its outstanding bonds.
Read more: ow.ly/QTLq50MIUIw
#performingcredit
Champion REIT’s $300M Due’28s OAS remains high at 250-300 bps, even as the spreads of its peers have narrowed by ~50bps since the start of 2024.
ow.ly/tmp350RloaU
#performingcredit
The Republic of Chile's new sustainability-linked notes provide for a 50 bps increase in principal amount if a 40% target for female board representation in listed companies is not achieved by the end of 2031.
Read more: ow.ly/Lqav50Paj3G
#performingcredit
Cheplapharm is offering €750m senior secured fixed and floating rate notes due 2030 (“2030s”) to finance the acquisition of worldwide rights to schizophrenia and bipolar disorder drug Zyprexa from Eli Lilly.
Read more: ow.ly/HfNn50NTCpl
#performingcredit
KKR is reportedly looking to exit Dutch vegetable spread manufacturer Upfield but, in our view, this may be difficult to pull off at least in the near term.
Read more: ow.ly/ABbl50QWo9S
#performingcredit
Median Kliniken, the German acute care provider and owner of U.K. peer Priory Group, returned to growth in July with earnings up 11% year over year as revenue growth outpaced wage increases.
Read more: ow.ly/hur950PIjMf
#performingcredit
BC Partners is gearing up to sell its German pharmaceutical contract development and manufacturing organization, or CDMO, Aenova on the back of strong year-to-date trading.
Read more: ow.ly/EHcO50PKsgq
#performingcredit
German building materials group Xella took further measures to preserve margins and liquidity as the sharp slowdown in the German construction market showed few signs of letting up.
Read more: ow.ly/k7ar50PK3xj
#performingcredit
In this week's EMEA podcast, Reorg's team discussed:
-Egypt’s #sovereigndebt
-Europe’s care homes sector challenges
- #Primarymarket highlights
🎧Listen now: ow.ly/OjSX50QRYtR
#leveragedfinance #highyield #restructuring #performingcredit #distresseddebt #debtrestructuring
Reorg is launching a monthly report highlighting the negative and positive rating actions by S&P Global, Moody’s and Fitch on performing and stressed/distressed companies in EMEA.
Read more: ow.ly/W53T50PVXOr
#performingcredit
Reorg's recent analysis on split-rated UPL highlights its fallen angel prospects amid weakening financial performance in 1FQ'24.
ow.ly/HWFw50PK1IO
#performingcredit #fallenangel #corporaterealignment
Reorg on Aug. 10 exclusively reported that Continuum Green Energy Ltd. is gearing up to launch its $450 million holdco bond this week.
ow.ly/e1ai50PAkPA
#performingcredit #holdcobond #bondissue
For further information, read here: financialexpress.com/business/banki…
#structureddebt #NBFCs #performingcredit