Distress

Are Virgin Australia’s bonds headed for a crash landing?

The government has committed millions to helping save both Qantas and Virgin Australia, although the CEO of the former has publicly stated the later doesn’t deserve it. How much Virgin ends up receiving could have a significant impact on its corporate bond holders.
April 01, 2020

Will an airline company ever be able to IPO again?

Amid an unprecedented level of flight reductions, a plummet in demand, and desperate capital raising exercises, expect airline IPO’s to remain grounded as the COVID-19 pandemic reshapes the industry. We review how many are finding ways just to stay alive.
March 30, 2020

Distressed debt: Why India must make friends with the vultures

Sitting on a half a trillion dollars of non-performing assets, India’s desire to lift growth should be enough to allow foreign investors to fully tap the country’s distressed debt market. However, there are two major impediments to change.
January 16, 2020

Expect more Hong Kong privatisations in 2020

Amid the implementation of new trading rules and access to cheaper financing, increasing numbers of public companies in Hong Kong are choosing to delist or privatise even as bourse rules allow unprofitable companies to go public.
January 15, 2020

Credit risks hang over Hainan Airlines

After its defaults last year, creditors could call in $12 billion of debt from Hainan Airlines, the prize asset of Chinese conglomerate HNA Group.
June 12, 2019