Company updates
FY17 represented a year of consolidation as the company worked on its diversification strategy and expansion into new markets. In our opinion, the 7.40% June 2020 secured bonds offer good value at mid price of $103.6 and YTW of 5.81%. Furthermore, we believe that these bonds provide portfolio diversity as litigation funding is relatively uncorrelated to general economic conditions
Company factsheets
IMF Bentham Ltd (IMF) is the largest litigation funder in Australia and the first to be listed on the Australian Securities Exchange (ASX: IMF). IMF has a market capitalisation of approximately $337m (as at 21 June 2017).
Company updates
In this week’s company updates, coal terminals Adani and Dalrymple Bay receive ratings actions from Moody’s, Downer makes an offer for Spotless Group and we provide updated research reports for IMF Bentham, Genworth and Genworth Australia
Company research
Established in 2001, IMF Bentham Limited is the largest litigation funder in Australia and the first to be listed on the Australian Securities Exchange (ASX: IMF).
Company updates
Reporting season is drawing to a close, but still we had eight Australian companies announce their 1H17 results over the week. Further, IMF Bentham has announced its expansion into Houston Texas and Mackay Sugar sought advice for its capital management and strategic direction
Company updates
IMF Bentham advised that it will open an office in Houston, Texas
Company updates
Emeco announced a revised timeline for its creditors’ meeting, both Genworth Australia and Genworth Holdings Inc. posted multiple updates, IMF Bentham announced the establishment of a $200m US focused litigation funding vehicle, McPherson’s released their preliminary unaudited 1H17 results and NRW Holdings has been awarded a contract from Altura Mining Limited
Company research
Established in 2001, IMF Bentham Limited (IMF) is engaged in the investigation, management and funding of litigation and arbitration claims in Australia, the US and other jurisdictions.
Company updates
Capitol Health’s results in line with forecasts, CBL to redeem outstanding April 2019 bonds, Fortescue released its June production report, IMF Bentham’s bank fee case against ANZ is dismissed and McPherson’s generates strong cash flow for latter half of FY16
Company updates
On 27 July, IMF Bentham (‘IMF’) announced that its appeal against the ANZ bank fees case was dismissed