Plan link to 200 m € ditches foresight
The lender aligned with three investment - banking Credit Switzerland, Lloyds and RBS - Fund, but decided to pull the quoted link after that investors concerns about liquidity supply. Provident financial institutions had been offering investors a coupon of 7pc and 7 5pc.
A provident financial spokesperson said: "we will come back on the market at a stage ultérieur.Avec margin, that we are very at ease with our financial strength."
Near surroundings of the company added that there is no question surrounding the offer, saying: "investors were very at ease."
Robin Savage, an analyst at Collins Stewart said: "in the Provident short term is fine and its numbers this year are nailed sur.Cependant, watching in 2011 and 2012, the company clearly faces problems."
"The simple point is trade conditions will make it tougher for them and financing becomes more a problème.Ils are in a situation difficult and that they have much margin in their current facilities, more on these issues in funding research examining more problematic."
Analysts have raised concerns that financial foresight will be affected many of its clients, see discounts for the comprehensive spending review.
Shares fell 19-787?p.
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