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

How Motorbike Maker KTM’s Overhaul Became a Debacle: The Brink

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

Welcome to The Brink. I’m Libby Cherry, a reporter in Frankfurt, where I followed creditors struggling to recoup their investments in insolvent Austrian companies. We also have news on Rite Aid, Indonesia’s Garuda and US distress. Follow this link to subscribe. Send us feedback and tips at [email protected]. 30 cents on the euro or liquidation. Deal or no deal.
How Motorbike Maker KTM’s Overhaul Became a Debacle: The Brink

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

Welcome to The Brink. I’m Libby Cherry, a reporter in Frankfurt, where I followed creditors struggling to recoup their investments in insolvent Austrian companies. We also have news on Rite Aid, Indonesia’s Garuda and US distress. Follow this link to subscribe. Send us feedback and tips at [email protected]. Wrong Footed in Vienna30 cents on the euro or liquidation. Deal or no deal.
How the Debt Overhaul of Motorbike Maker KTM Became a Debacle

1 week ago | bloomberg.com | Libby Cherry

The restructuring of the Austrian motorbike maker shows the perils of getting stuck in an unfamiliar jurisdiction This article is for subscribers only. Welcome to The Brink. I’m Libby Cherry, a reporter in Frankfurt, where I followed creditors struggling to recoup their investments in insolvent Austrian companies. We also have news on Rite Aid, Indonesia’s Garuda and US distress. Follow this link to subscribe. Send us feedback and tips at [email protected]. 30 cents on the euro or liquidation.
UK Debt Collector Lowell Asks for Lender Consents to Debt Deal

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

Lowell, a debt collector backed by private equity firm Permira, asks for noteholders’ consent to agree to its planned debt overhaul, according to a statement.
Standard Profil Gets Creditor Go-Ahead for New Debt Facility (1)

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

Standard Profil Automotive GmbH has secured bondholders’ consent to raise a new loan as the German auto supplier seeks to restructure its debt to stem liquidity pressures. Standard Profil, which is backed by Turkish private equity firm Actera Group, won permission from noteholders to tweak bond terms to pave the way for the transaction, Chief Executive Officer Klaus Elmer said in an earnings call on Wednesday.
Standard Profil Gets Creditor Go-Ahead for New Debt Facility (1)

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

Standard Profil Automotive GmbH has secured bondholders’ consent to raise a new loan as the German auto supplier seeks to restructure its debt to stem liquidity pressures. Standard Profil, which is backed by Turkish private equity firm Actera Group, won permission from noteholders to tweak bond terms to pave the way for the transaction, Chief Executive Officer Klaus Elmer said in an earnings call on Wednesday.
KKR to Hand Selecta to Lenders Including Invesco in Debt Deal

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

Private equity firm KKR & Co is set to hand over Swiss vending machine operator Selecta Group to a group of creditors as part of a restructuring plan that will slash its outstanding debt by over €1 billion ($1.1 billion). The group includes Invesco Ltd., Man Group Plc, Strategic Value Partners LLC and Diameter Capital Partners LP, according to people familiar with the matter, who asked not to be identified discussing private information.
KKR to Hand Selecta to Lenders Including Invesco In Debt Deal

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

Private equity firm KKR & Co is set to hand over Swiss vending machine operator Selecta Group to a group of creditors as part of a restructuring plan that will slash its outstanding debt by over €1 billion ($1.1 billion). The group includes Invesco Ltd., Man Group Plc, Strategic Value Partners LLC and Diameter Capital Partners LP, according to people familiar with the matter, who asked not to be identified discussing private information.
German Tech Rental Firm Grover Nears Restructuring Deal in Court

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

Electronics-rental company Grover Group is nearing a restructuring deal that will see some creditors take over the majority of the equity of the German startup. Investors led by Fasanara Capital and M&G are poised to inject €30 million ($34 million) to €35 million in fresh funds, thereby taking over the bulk of the equity, according to people familiar with the matter. Existing shareholders will retain a stake of between 5% and 10%, the people said.
German Tech Rental Firm Grover Nears Restructuring Deal in Court

3 weeks ago | news.bloomberglaw.com | Arno Schütze |Libby Cherry

Electronics-rental company Grover Group is nearing a restructuring deal that will see some creditors take over the majority of the equity of the German startup. Investors led by Fasanara Capital and M&G are poised to inject €30 million ($34 million) to €35 million in fresh funds, thereby taking over the bulk of the equity, according to people familiar with the matter. Existing shareholders will retain a stake of between 5% and 10%, the people said.