The strange goings-on with Thomas Cook's debt...- Part 3

Friday, 12 July 2019, 6:56 am

No wonder credit default swaps on Thomas Cook's bonds (effectively the cost of bond insurance) were blowing out earlier this week.

Overnight, the details of some funky debt-for-equity swap deal emerged via the Kleimmanator of Sky News (to be fair, it was a good scoop) with Fosun, the Chinese conglomerate that is already Thomas Cook's largest shareholders. Below is the link:


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