SMCP : D-day for the exchangeable bond redemption: we will know by this evening
>End of the grace period today, Thursday 30 September 2021. - SMCP’s majority shareholder, Shandong Ruyi, had to redeem a € 250m bond on 21 September. On 23 September, it issued a press release acknowledging that it has not yet done so and that it has a grace period until today (30 September).We still think that Shandong Ruyi will default, here is why - First, it failed to redeem the bond at the first maturity date on 21 September.Second, Shandon...SMCP is engaged in the apparel and accessories retail market. Co.'s products are sold through a network of points of sale and websites. Co.'s product range is composed of on-trend and quality womenswear, menswear and accessories. Co.'s three brands can be characterized as follows: Sandro, targeted at sophisticated and self-confident women with a sleek, cool sense of style and a Parisian nonchalance; Maje, a bohemian chic positioning, targeting a feminine and young-at-heart and joie de vivre clientele and Claudie Pierlot, characterized as Parisian-preppy, wise and with a rebel touch. Claudie Pierlot is focused on a timeless, effortless style.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.