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Post by easterndreams on Apr 1, 2021 0:02:44 GMT
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Codere
Apr 7, 2021 17:06:06 GMT
Post by happylemon on Apr 7, 2021 17:06:06 GMT
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Codere
Apr 25, 2021 23:09:58 GMT
via mobile
Post by easterndreams on Apr 25, 2021 23:09:58 GMT
Ahh yes you are correct, apologies for the cock-up on my end!
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Post by happylemon on Apr 28, 2021 20:27:02 GMT
No worries. But story goes on. Restructuring. Going to be soon an equity holder and bond holders will be in control of the business operation (367m, 46% of the current SSN, will be converted to get 95% of shares). And addition 225m will be injected if all goes according to plan. Quite a ride. At least a bit more promising than the Travelex disaster. Made that trough too. Wonder how the early bird Consent Fee will be paid out by Wisealpha if they do their vote early.
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Codere
May 1, 2021 1:47:29 GMT
via mobile
Post by easterndreams on May 1, 2021 1:47:29 GMT
I sold out, too much drama to be involved in these japes
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Codere
Jul 8, 2021 18:38:25 GMT
Post by happylemon on Jul 8, 2021 18:38:25 GMT
Did'nt sell my part. And it just jumped quite nicely.
What I don't get is. There was an additional restructuring last month, where the bond holder kind of took over the company and are now to 95% in control. Additional capital was raised from within these main bond holders. But I thought I read somewhere, that the condition is that once this happen the coupons will be paid. Both.
But currently only one is paid. Actual the junior one was paid. The super senior is still in payment processing.
Someone else understood exactly what the transaction deal was.
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Codere
Jul 8, 2021 18:56:58 GMT
Post by happylemon on Jul 8, 2021 18:56:58 GMT
Actually lot's of stuff needs to be updated there.
The super Senior secured notes condition will be changed. 8% cash + 3% PIK. on condition if liquidity less then 100m EUR, then it's 6% Cash + 5.5% PIK. Extension by 3 additional years.
The Senior secured (junior to the one above) will be split into: 25% SSN (2% cash, 10.75% PIK, 4 years extension) 29% converted into subordinated PIK Notes (7.5%) 46% into 95% equity
Both mentioned that coupon will be paid, once second bridge finance tranche is issued. So I have now asked wisealpha about it.
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Codere
Jul 14, 2021 11:03:40 GMT
via mobile
Post by easterndreams on Jul 14, 2021 11:03:40 GMT
It looks as though the forever delayed interest payment arrived, at last
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