CREDIT: KKR’s ATU Faces ‘Challenging’ Refinancing: Lucror
2013-02-18 12:38:54.517 GMT
By Patricia Kuo
Feb. 18 (Bloomberg) -- Weak performance may lead co. to seek support from owners or pursue a sale: Lucror.
- Failure to get support or sale could lead to a financial restructuring: Lucror
- ATU’s revenue and adjusted Ebitda were EU630m and EU51m in the six months to the end of 2012, down from EU655m and EU60m in same period 2011, co. told bondholders: Lucror
- Co. expects Ebitda of ~EU100m for FYE June 2013: Lucror
- Co. preparing documents for refinancing plan: Lucror
- Co. suggested trade buyers could make bid and take advantage of synergies: Lucror
- Markus Meissner, an ATU spokesman, declined to comment on the co.’s performance and refinancing plans
- NOTE: ATU’s EU375m 11% bonds, and EU225m callable floating rate notes, mature in 2014, data compiled by Bloomberg show