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Respite from banks causes Greenyard shares to shoot up

After Greenyard announced on Thursday evening that the banks will not punish the company for 15 months for their excessively high debt ratio, their shares shot up. Normally banks do not permit room to play for companies in difficulties for 15 months. According to KBC Securities the announcement is positive, because it shows that the bankers believe the Transformation plan shown by the fruit and vegetable giant is achievable. 

The 15 month respite will not only benefit shares, but also obligations. The rate of obligations with an expiration date of July 5 2019 rose to 98.45% of the nominal value. In mid February the rates reach a low of 85.5%.

Source: De Tijd

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