Company updates
This week, Adani Abbot to release prospectus for USD500m issue, two new DirectBonds from Frontier Communications, update on NCIG junior debt and full research report on NRW notes, Mackay Sugar puts cogeneration asset sale on hold, Qantas to extend Emirates partnership and zipMoney 1Q18 results
Company updates
While in a declining industry, PMP’s continues to participate in industry consolidation to improve its position. It has a conservative financial policy which seeks to maintain minimal net debt. The group generates solid free cashflow and expects to be net debt free by FY19
Company updates
This week, Eric Insurance released its 1H17 results, PMP provides an update following its acquisition of IPMG, Sydney Airport announced it declined the offer to develop and operate Western Sydney Airport, and we DirectBonded new bonds from Barminco Finance and Talen Energy Supply
Company factsheets
PMP Finance Pty Ltd 8.75% 23 October 2017 AUD senior unsecured bond
Company updates
Reporting season is drawing to a close, but still we had eight Australian companies announce their 1H17 results over the week. Further, IMF Bentham has announced its expansion into Houston Texas and Mackay Sugar sought advice for its capital management and strategic direction
Company updates
PMP has recorded weak results for 1H17, attributed to intense competition as well as customers delaying signing contracts until the IPMG merger is complete
Company updates
Plenty of company reporting over the last week with seven companies having posted their 1H17 or full year 2016 results, we announced a new floating rate DirectBond from NAB and PMP announced their merger with IPMG will proceed as planned
Company updates
PMP confirmed its proposed merger with IPMG will proceed as planned, following Australian Competition and Consumer Commission’s (ACCC) final decision that it will not oppose the transaction
Company updates
Emeco noteholders have now committed to support its restructuring transaction, we provided a research update on Capitol Health, Fitch ratings revised outlook on Australia’s banking sector and the ACCC raises initial concerns regarding the PMP-IPMG merger
Company updates
The ACCC revealed its preliminary view that the merger would "substantially lessen competition in the supply of heatset web offset printing, the main method for printing catalogues and magazines".