The strange goings-on with Thomas Cook's debt...- Part 3

Friday, 12 July 2019, 6:56 am

No wonder credit default swaps on Thomas Cook's bonds (effectively the cost of bond insurance) were blowing out earlier this week.

Overnight, the details of some funky debt-for-equity swap deal emerged via the Kleimmanator of Sky News (to be fair, it was a good scoop) with Fosun, the Chinese conglomerate that is already Thomas Cook's largest shareholders. Below is the link:

https://news.sky.com/story/thomas-cook-close-to-unveiling-fosun-rescue-deal-1176137..

Register

Register for free to see rest of this article and all public articles from Betaville

Login / Register

[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

Post Comment