Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (11 lettori)

Fabrib

Forumer storico
LONDON (Reuters) - Minority shareholders in zinc producer Nyrstar are seeking 1.48 billion euros (1.28 billion pounds) in damages from global commodities trader Trafigura over the restructuring of the Belgian firm, the shareholders' lawyer said on Saturday.
Nyrstar was on the brink of bankruptcy before Trafigura stepped in. The Geneva-based trader has a 24.4% stake in the Belgium-listed firm.
The statement outlines for the first time the total damages sought by the minority shareholders and marks an escalation in the fight for Nyrstar after several months of legal action.
"We have publicly launched the suit and the formal filing will be put to the Brussels commercial court just after the shareholders general meeting on Nov. 5," Laurent Arnauts of Watt Legal lawfirm representing about 100 shareholders said.
As part of the deal to save Nyrstar, lenders had to write off part of their debt or agree to extended repayment schemes while all the firm's operating assets were transferred into a new subsidiary called Newco 2 based in Britain, in which Trafigura holds a 98% stake.
The remaining shareholders were then left with a 2% stake in the operating assets held by Newco 2 through their firm called Nyrstar.
 

AAA+

Forumer attivo
DISTRESSED DAILY: Frontier Gears Up for Debt Payment and Talks
Friday, October 11, 2019 01:00 PM

By Allison McNeely

(Bloomberg) --
The routine act of paying a coupon on time was enough to spark a rally last August in Frontier Communications Corp. bonds. It gets another chance next week when it’s supposed to pay creditors another $60 million in interest, as the company gears up for negotiations around a possible restructuring.

  • The Norwalk, Connecticut-based telecom provider faces an Oct. 15 interest payment deadline across a series of maturities, according to data compiled by Bloomberg.
    • 8.5% notes due April 2020
    • 8.75% notes due April 2022
    • 7.765% notes due April 2024
    • 8.4% notes due October 2029
      • There’s been no indication that Frontier plans to skip any of those payments.
  • Advisers for the company’s creditors have signed non-disclosure agreements so they can access confidential company data and begin negotiations around possible solutions to the company’s $17 billion debt load, according to people with knowledge of the matter.
  • Some of the company’s creditors would like to see a restructuring deal in which Frontier’s $3.6 billion of first-lien and $1.6 billion of second-lien debt get reinstated, and the company’s $11.7 billion of unsecured debt converts to equity, said the people, who asked not to be identified discussing confidential matters.
    • No formal proposals have been submitted to the company, according to one of the people.
  • Moody’s Investors Service downgraded Frontier to Caa2 from Caa1 in August after the company reported a $5.45 billion goodwill impairment in its most recent earnings.
  • Frontier is scheduled to report third-quarter earnings on Nov. 5 and it will not be hosting a question-and-answer session.
  • The company reported $786 million of liquidity and operating free cash flow of $300 million as of June 30.
    • However, it also reported declining revenue driven by customer loss and elevated rates of customer turnover, and it lowered its guidance for the fiscal year.
  • A representative for Frontier declined to comment.
DISTRESSED DAILY: Frontier Gears Up for Debt Payment and Talks
Friday, October 11, 2019 01:00 PM

By Allison McNeely

(Bloomberg) --
The routine act of paying a coupon on time was enough to spark a rally last August in Frontier Communications Corp. bonds. It gets another chance next week when it’s supposed to pay creditors another $60 million in interest, as the company gears up for negotiations around a possible restructuring.

  • The Norwalk, Connecticut-based telecom provider faces an Oct. 15 interest payment deadline across a series of maturities, according to data compiled by Bloomberg.
    • 8.5% notes due April 2020
    • 8.75% notes due April 2022
    • 7.765% notes due April 2024
    • 8.4% notes due October 2029
      • There’s been no indication that Frontier plans to skip any of those payments.
  • Advisers for the company’s creditors have signed non-disclosure agreements so they can access confidential company data and begin negotiations around possible solutions to the company’s $17 billion debt load, according to people with knowledge of the matter.
  • Some of the company’s creditors would like to see a restructuring deal in which Frontier’s $3.6 billion of first-lien and $1.6 billion of second-lien debt get reinstated, and the company’s $11.7 billion of unsecured debt converts to equity, said the people, who asked not to be identified discussing confidential matters.
    • No formal proposals have been submitted to the company, according to one of the people.
  • Moody’s Investors Service downgraded Frontier to Caa2 from Caa1 in August after the company reported a $5.45 billion goodwill impairment in its most recent earnings.
  • Frontier is scheduled to report third-quarter earnings on Nov. 5 and it will not be hosting a question-and-answer session.
  • The company reported $786 million of liquidity and operating free cash flow of $300 million as of June 30.
    • However, it also reported declining revenue driven by customer loss and elevated rates of customer turnover, and it lowered its guidance for the fiscal year.
  • A representative for Frontier declined to comment.

La mia unsecured 2031 dovrebbe diventare equity ?
:(
 

lasagna

Nuovo forumer
Chiedevo opinioni in merito a obbligazioni governative in euro emesse dai seguenti stati: Costa d'Avorio, Senegal, Benin, Egitto. Grazie
 

Fabrib

Forumer storico
LONDON (Reuters) - Minority shareholders in zinc producer Nyrstar are seeking 1.48 billion euros (1.28 billion pounds) in damages from global commodities trader Trafigura over the restructuring of the Belgian firm, the shareholders' lawyer said on Saturday.
Nyrstar was on the brink of bankruptcy before Trafigura stepped in. The Geneva-based trader has a 24.4% stake in the Belgium-listed firm.
The statement outlines for the first time the total damages sought by the minority shareholders and marks an escalation in the fight for Nyrstar after several months of legal action.
"We have publicly launched the suit and the formal filing will be put to the Brussels commercial court just after the shareholders general meeting on Nov. 5," Laurent Arnauts of Watt Legal lawfirm representing about 100 shareholders said.
As part of the deal to save Nyrstar, lenders had to write off part of their debt or agree to extended repayment schemes while all the firm's operating assets were transferred into a new subsidiary called Newco 2 based in Britain, in which Trafigura holds a 98% stake.
The remaining shareholders were then left with a 2% stake in the operating assets held by Newco 2 through their firm called Nyrstar.
LONDON (Reuters) - Nyrstar Langlois mine in Canada will cease production in December due to rock conditions having deteriorated to an extent to which the company considers it uneconomic, the company said in a release on Monday.
"The jobs of around 240 members of Nyrstar staff working at Langlois will be affected by this decision," Nyrstar said.
"The collective dismissal process is underway in cooperation with the local labor unions."
The Langlois mine produced 24,000 tonnes on zinc in concentrate last year, according to Nyrstar's website.
 

fedro10

è la somma che fa il totale...
Sì, confermo su TLX 100.000 dopo simulazione acquisto. Strano :mmmm:

Vedi l'allegato 531070

strano anche i volumi odierni
upload_2019-10-14_16-26-46.png
 

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