EMEA Podcast: Greensill Administration, Takko Financing Issues

Released on a bi-weekly basis, the EMEA Core Credit Podcast by Reorg discusses the most prominent issues, situations and companies in the high-yield and distressed debt space. Our team of reporters, financial analysts and legal analysts provide comprehensive, real-time and up-to-date news, commentary and analysis on each issue discussing how these situations may impact their surrounding markets. Each episode of the podcast also features a deep-dive into a particularly interesting situation from the previous week. This week’s deep dive discusses U.K. working capital finance provider Greensill and German value fashion retailer Takko.

Greensill Capital made headlines earlier in the month when Credit Suisse froze about $10B in funds that were mostly linked to Greensill’s sourced securities. After these announcements there was a global avalanche of coverage following Greensill and last Monday, March 8, directors of Greensill Capital U.K. Limited and Greensill Capital Management Company U.K. Limited applied to the English High Court for the appointment of administrators. In the second half of this podcast, our coverage team reviewed German fashion retailer Takko after their bonds dropped to the low to mid 80s following the retailer’s announcement that talks for a €60M stake guarantee loan had failed. Click through to listen to the full episode on Apple Podcasts, Spotify or Soundcloud to hear EMEA Core Credit senior legal analyst Shan Quereshi and EMEA Core Credit senior reporter Aurelia Seidlhofer discuss each situation.