Please find our updated analysis post the Q3 2024 results on Klockner Pentaplast here.

KP delivered a disappointing Q3 2024 earnings report with a reduction in guidance for EBITDA and free cash flow driven by continued pharma de-stocking

We have decided to sell our 2% position in the senior secured notes at 96.5 giving us a nice profit of ten points in five months as we feel the upside is limited given the

As part of the wall crossing process in their current refinancing discussions, the German plastic packaging group through its advisers have asked new investors (which are

As the primary markets open up to “story” credits, the SVP owned German plastic packaging group appears to be pre-marketing a €2 billion debt refinancing which

The company underperformed our Q2 2024 revenues by EUR 28 million (by nearly 6%) due to lower pharma volumes, rigid films and reduction in raw material and

KP released preliminary trading results in which the Company have guided to higher Adj. EBITDA for Q2 and to the higher end of

Klockner Pentaplast (Saahil): Going back to the future, it seems that the €300 million senior notes are seeing a new buyer or set of buyers with the notes up

Post our initiation of Klockner Pentaplast, the company reported Q1 2024. Revenues of €468 million were below our estimates of €534 million driven by volume declines in

Please find our initiation and model on Klockner Pentaplast here as a framework for discussion.

As any market participant in the European high yield market with gray hair would observe, Klockner Pentaplast has been a special situation