Asmita Wire Contributor

Asmita Kulkarni

Director - Credit Research, Banks and Financial Institutions

Company updates

CML Group - FY17 solid result

CML posted a strong result with FY17 EBITDA of $13.3m which was ahead of revised guidance as both scale and volume improved. Management are focused on transforming funding by moving to majority bank funded debt in the next 12 to 24 months. CML’s bonds are currently trading higher than the 104% call price at which they are likely to be redeemed at the next call date in May 2018, we believe they offer fair value at current price

Company updates

Genworth Financial, Inc.

In this note we provide an update on the proposed acquisition of Genworth Financial, Inc. (‘Genworth’) by China Oceanwide Holding Group (‘Oceanwide’) which was announced in October 2016 and approved by shareholders in March 2017.