• Worth Watching:
  • LRESM bonds have CoC 101 Puts.
  • Bonds rallied on Friday following the launch of a takeover offer by Hines and Grupo Lar.
  • The equity is now trading above the €8.10 offer price which can be read as a Positive sign of support for the company.
  • But the short-term trade here is an immediate 11pt gain on the 28s which becomes less likely unless the buyers come back with an improved offer.

REAL ESTATE: Lar Espana (LRESM: BBB): Equity Above Takeover Price

Last updated at:Jul-15 06:42By: David Hayes
  • Worth Watching:
  • LRESM bonds have CoC 101 Puts.
  • Bonds rallied on Friday following the launch of a takeover offer by Hines and Grupo Lar.
  • The equity is now trading above the €8.10 offer price which can be read as a Positive sign of support for the company.
  • But the short-term trade here is an immediate 11pt gain on the 28s which becomes less likely unless the buyers come back with an improved offer.

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