By Pacific International Lines.
Pacific International Lines has announced that the company will be making a billion dollar early repayment to creditors who were subject to the Scheme of Arrangement (Scheme).
PIL entered into the Scheme as part of its restructuring in 1Q 2021. PIL has added that it will satisfy all Scheme obligations following the prepayment, which is envisaged...
Full-service airlines, hamstrung by large debt incurred to survive the pandemic financial crisis and minimal recovery of the lucrative corporate travel segment, need to reevaluate their business models, as well as fleet and finance strategies, to return to growth mode, according to Alix Partners.
The global consulting firm and turnaround specialist recommended a series of steps airlines should take to create a sustainable business post-recovery, including greater focus on generating revenue from...
https://www.freightwaves.com/news/report-cargo-part-of-solution-mix-for-airline-deleveraging
Jin extends olive branch to Biden team, Monetary rethink required on BoE debt
Friday 26 February 2021 – Vol.12 Ed.8.5
Commentary: AIIB’s Jin extends olive branch to Biden team
By David Marsh in Berlin
A senior Chinese banker leading the Beijing-based Asian Infrastructure Investment Bank has extended the US an important olive branch. Jin Liqun – a veteran economic official who has been AIIB president since its inception in 2016 – revealed early informal contacts with ‘our friends’ in President Joe...
A recent news...
https://mfame.guru/shipping-corporation-debts-should-shareholders-be-worried-about/
Air Canada (TSX:AC) late Tuesday announced it is raising more than $750 million in working capital through the sale of CA$500 million ($357.5 million) of stock and a private placement of $400 million in bonds.
The development came the same day as the International Air Transport Association warned that airlines could eventually fail because of debt loads they are taking on to support operations. The coronavirus pandemic has caused drastic declines in airline earnings and cash as people stay home...
https://s29755.pcdn.co/news/air-canada-raises-$750-billion-to-boost-liquidity
American Commercial Lines Inc. announced today that it has entered into a restructuring agreement with lenders on a prepackaged plan to recapitalize the business and significantly reduce the company’s debt. Under the terms of the plan, Jeffersonville, Ind.-based ACL will receive $200 million in new capital to support liquidity and investments in the business. In addition, the plan provides for a reduction of funded debt by approximately $1 billion.
To implement the plan, the company expects to...
Leverage need not be a bad word? Well, maybe.
That is certainly true if you look at very short-term trends since the turn of the year for the secondary leveraged loan market in Europe, which are highlighted below.
However, longer-term trends are less meaningful at a time when it is hard to gauge the appetite for many risky assets from the 110 trading level of $/¥ exchange rate – the Japanese yen typically …
The post Analysis: supply chain debt – make sure due credit is finally collected appeared...
https://theloadstar.com/analysis-supply-chain-debt-make-sure-due-credit-is-finally-collected/
Star Bulk cleared all debt from its 2016 finance restructuring, making way for vessel additions and dividend payments.