Hazik Siddiqui

Aug 22, 2024 | 9fin.com | Will Macadam |Hazik Siddiqui |Chris Osborne |Fatima Kane

News and AnalysisWill Macadam+Hazik Siddiqui+ 2 more22 August 2024•4 min readBrookfield and the Grifols family’s potential take-private of Grifols has caused the group’s debt stack to rally towards their prices for either a change of control put offer, or redemption. All of the bonds define a change of control as occurring if the Grifols family acquires an equity stake greater than 50% in the blood plasma-related products producer, or if anyone else acquires a stake greater than 35%.

Oct 31, 2023 | 9fin.com | Hazik Siddiqui

News and AnalysisHazik Siddiqui1 November 2023•3 min readSIGNA Development (finally!) published Q2 23 earnings yesterday evening (31 October), potentially steering clear from a breach of reporting requirements.

Aug 3, 2023 | 9fin.com | Hazik Siddiqui

DIC Asset AG (DIC), which operates a yielding real estate portfolio alongside mutual funds in Germany, is in a precarious situation. It has €806m of upcoming debt maturities compared to €486.7m of pro forma liquidity. LTV and interest coverage covenants are likely to be challenged later this year amid property devaluation and coupon step-ups on its VIB bridge financing — after its terms were recently renegotiated with bridge lenders.

Jul 17, 2023 | 9fin.com | Hazik Siddiqui |Emmet Mc Nally

German Real Estate (German RE) has become a closely watched and a much debated sector. A string of short-seller attacks, that began with Muddy Waters taking a short position in Corestate stock in 2019, has put a spotlight on everything from questionable governance to dubious transactions and asset valuations.