Free Trial

Samsonite (SAMISA; B1/BB/BB+) $200m buyback annouced

CONSUMER CYCLICALS
  • It's followed firm results & a one-notch upgrade from Fitch with a $200m buyback. We are not concerned re. the 26s - it had $745m of cash (before dividends) and a dual listing on the horizon. That was against $1.8b in debt.
  • No value left in the €26s but we hope it stays in the market through refi. Similar to Wizz air some impressive moves; +14pts from mid '22 on travel bounce-back and BS discipline.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.