Libby Cherry

London, United Kingdom

Reporter at Bloomberg News

Distressed debt and special situations @business | used to do coins | Views my own [email protected]

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Articles

HIG Set to Take Over Portfolio of Insolvent Developer Ziegert

1 week ago | news.bloomberglaw.com | Libby Cherry

Alternative investment firm HIG Capital is poised to take over a property portfolio from the insolvent German real estate developer Ziegert Group, which it had financed prior to insolvency. The portfolio constitutes the majority of the real estate assets of Berlin-based Ziegert, according to a person familiar with the matter, which is largely focused on residential developments.
Selecta’s Debt Deal Leaves Bitter Aftertaste for Some Creditors

1 week ago | bloomberg.com | Giulia Morpurgo |Libby Cherry

Welcome to The Brink. It’s Giulia Morpurgo and Libby Cherry, reporters in London and Frankfurt, where we looked at the peculiar features of the deal to restructure the debt of Selecta. We also have news on Ecuador, Marelli and EchoStar. Follow this link to subscribe. Send us feedback and tips at [email protected].
Billionaire Vitek’s CPI Offers Niche Hybrid to Boost Rating (1)

2 weeks ago | news.bloomberglaw.com | Tasos Vossos |Marton Eder |Libby Cherry

CPI Property Group SA is borrowing through a new type of hybrid debt as it tries to shed its junk ratings. The landlord, owned by Czech billionaire Radovan Vitek, will offer the debt to holders of $755 million worth of existing euro and Singapore dollar-denominated hybrids, it announced on Thursday, in an effort to boost its standing with ratings firms.
Billionaire Vitek’s CPI Offers Niche Hybrid Bond to Boost Rating

2 weeks ago | news.bloomberglaw.com | Tasos Vossos |Marton Eder |Libby Cherry

CPI Property Group SA is borrowing through a new type of hybrid debt as it tries to shed its junk ratings. The landlord, owned by Czech billionaire Radovan Vitek, will offer the debt to holders of $755 million worth of existing euro and Singapore dollar-denominated hybrids, it announced on Thursday, in an effort to boost its standing with ratings firms.
Solar’s Hopes Dim as Post-Covid Boom Turns to Trump-Era Bust

2 weeks ago | bloomberg.com | Libby Cherry |Edward Clark

Welcome to The Brink. We’re Libby Cherry and Ed Clark, reporters in London, where we’ve been following the travails of the solar industry. We also have the latest on China’s property crisis and Altice France. Follow this link to subscribe. Send us feedback and tips at [email protected]. Solar companies in the US and Europe boomed in the wake of the pandemic and the war in Ukraine as government incentives and record high gas prices drove installs.
Solar’s Hopes Dim as Post-Covid Boom Turns to Trump-Era Bust

2 weeks ago | flipboard.com | Libby Cherry |Edward Clark

NowCNN — A shooter opened fire at a high school in the Austrian city of Graz on Tuesday, killing nine people, including teenagers, in one of the worst rampages in the country’s history. Austrian police confirmed the fatalities, raising the death toll from an earlier figure of eight. The country’s …
Deutsche Sees 2026 Rise in US Defaults as Soft Landing Odds Fall

2 weeks ago | news.bloombergtax.com | Libby Cherry

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Deutsche Sees 2026 Rise in US Defaults as Soft Landing Odds Fall

2 weeks ago | news.bloomberglaw.com | Libby Cherry

Deutsche Bank analysts see US speculative-grade default rates rising to 4.8% by the second quarter of 2026, with “potential upside” to 5% to 5.5%, according to a report dated June 9.
Banks Hold Line as Hedge Funds Circle German Auto Suppliers

1 month ago | bloomberg.com | Libby Cherry

Welcome to The Brink. I’m Libby Cherry, a reporter in Frankfurt, where I’m covering distress in the European automotive supplier sector. We also have updates on a New York private school trying to stay afloat and an interview with Polus. Follow this link to subscribe. Send us feedback and tips at [email protected]. The restructuring of auto supplier Webasto this week gave some reassurance to players in a key German manufacturing sector that’s being eyed up by distressed debt investors.
Ardagh Calls Off Debt Negotiations With Unsecured Creditors (2)

1 month ago | news.bloombergtax.com | Giulia Morpurgo |Libby Cherry

Negotiations between Ardagh Group SA and a group of unsecured bondholders about an overhaul of its capital structure have broken down, with points of difference including the future ownership structure of the metals business. The company was previously in talks with its owner, Irish billionaire Paul Coulson, and a group of senior unsecured bondholders about a potential debt restructuring. The parties have not reached an agreement and are no longer in discussions, according to a statement.