Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

Credit

<ul>
<li>Elon Musk sold billions more of Tesla near 2-yr lows, signaling he &amp; Twitter need serious cash NOW. </li>
<li>His banks know why—they hold Elon's margin loans and they get Twitter's financial info every month.</li>
<li>And the banks want Elon to buy back from them Twitter's riskiest LBO debt, which they can't sell because of how fast he is destroying Twitter's business and prospects.</li>
</ul>


Elon Musk sold billions more of Tesla near 2-yr lows, signaling he &amp; Twitter need serious cash NOW. 
His banks know why—they hold Elon's margin loans and they get Twitter's financial info every month.
And the banks want Elon to buy back from them Twitter's riskiest LBO debt, which they can't sell because of how fast he is destroying Twitter's business and prospects.


Elon Sold More Falling Tesla Stock. Margin Calls? Twitter Failing? Bank Demands? Likely All Three.

<ul>
<li>Twitter’s banks are stuck with 30% of total US LBO debt unsold debt.</li>
<li>The banks already had lost more than $500 million on Twitter's LBO debt even before the deal closed. They could sell it even at 50-60 cents on the dollar.</li>
<li>The trouble with Elon aggressively blowing up Twitter is that it's banks probably won't take his calls when Twitter needs more cash—which it probably will in the near future.</li>
</ul>


Twitter’s banks are stuck with 30% of total US LBO debt unsold debt.
The banks already had lost more than $500 million on Twitter's LBO debt even before the deal closed. They could sell it even at 50-60 cents on the dollar.
The trouble with Elon aggressively blowing up Twitter is that it's banks probably won't take his calls when Twitter needs more cash—which it probably will in the near future.


Twitter's Banks Are Stuck With Largest Chunk Of Unsold LBO Debt

Concise Playbook for the Week, Global Markets Playbook

Kevin George

Concise Playbook for the Week

Global Markets Playbook

I am an active trader in stocks, FX and commodities with over 15 years' market experience. I hold a master's degree in finance and have developed a strong skill base in technical analysis. 

Alongside technical setups I will provide earnings analysis, company valuation analysis and macroeconomic studies for the key market releases.

Equity Bottom-Up

Meta Platforms (Facebook) / Equity Bottom-Up

<ul>
<li>Polygon added to Disney Accelerator program. Fashion and payments companies add to the recent partnerships.</li>
<li>Polygon also added to the recently partnerships with Instagram NFTs.</li>
<li>In a recent <a href="https://seekingalpha.com/article/4549791-meta-platforms-vs-disney-buy-dis-for-metaverse" target="_blank" rel="noopener">article</a>, I advised buying Disney for eventual growth in the metaverse. Polygon (<a href="https://www.smartkarma.com/search?q=MATIC-USD" target="_blank" rel="noopener">MATIC-USD</a>) is a crypto project that has been making waves with a series of big-name corporate partnerships, including Disney.</li>
</ul>


Polygon added to Disney Accelerator program. Fashion and payments companies add to the recent partnerships.
Polygon also added to the recently partnerships with Instagram NFTs.
In a recent article, I advised buying Disney for eventual growth in the metaverse. Polygon (MATIC-USD) is a crypto project that has been making waves with a series of big-name corporate partnerships, including Disney.


Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>There is potentially a premium of about 20-25% being assessed for the possibility of a deal for <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a>, but there is also fundamental risk beyond this.</li>
<li>
<a href="https://www.smartkarma.com/entities/perpetual-ltd" target="_blank" data-smartkarma-citation="entities:599:1" rel="noopener">Perpetual Ltd (PPT AU)</a> rejects EQT/BPEA/Regal's Offer, a proposal that is contingent on PPT ceasing its Scheme with <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a> </li>
<li>
<a href="https://www.smartkarma.com/entities/news-corp" target="_blank" data-smartkarma-citation="entities:26926:1" rel="noopener">News Corp (NWS AU)</a> is trading rich. The net EV/EBITDA for the stub ops trades closely matches to <a href="https://www.smartkarma.com/entities/fox-corporation" target="_blank" data-smartkarma-citation="entities:36135:1" rel="noopener">Fox (FOXA US)</a>. And Fox is preferable over NWS' print media business. </li>
</ul>


There is potentially a premium of about 20-25% being assessed for the possibility of a deal for Toshiba Corp (6502 JP), but there is also fundamental risk beyond this.

Perpetual Ltd (PPT AU) rejects EQT/BPEA/Regal's Offer, a proposal that is contingent on PPT ceasing its Scheme with Pendal Group (PDL AU) 

News Corp (NWS AU) is trading rich. The net EV/EBITDA for the stub ops trades closely matches to Fox (FOXA US). And Fox is preferable over NWS' print media business. 


Last Week in Event SPACE: Toshiba, Perpetual/Pendal, News Corp/Fox Corp

Travis Lundy

<ul>
<li>S&amp;P DJI <a href="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20221027-1457121/1457121_5twtr-4xpo.pdf" target="_blank" rel="noopener">announced</a> late 27 October 2022 that <a href="https://www.smartkarma.com/entities/twitter-inc" target="_blank" data-smartkarma-citation="entities:667:1" rel="noopener">Twitter Inc (TWTR US)</a> would be deleted from the S&amp;P500, replaced by <a href="https://www.smartkarma.com/entities/arch-capital-group-ltd" target="_blank" data-smartkarma-citation="entities:2901:1" rel="noopener">Arch Capital (ACGL US)</a>. </li>
<li>RXO would be added to the MidCap400 while Bread Financial Holdings (BFH) would move from MidCap400 to SmallCap600 and <a href="https://www.smartkarma.com/entities/unifi-inc" target="_blank" data-smartkarma-citation="entities:17531:1" rel="noopener">Unifi Inc (UFI US)</a> would get deleted from the 600.</li>
<li>This insight presents the issues and the flows, which are not to be separated. </li>
</ul>


S&amp;P DJI announced late 27 October 2022 that Twitter Inc (TWTR US) would be deleted from the S&amp;P500, replaced by Arch Capital (ACGL US). 
RXO would be added to the MidCap400 while Bread Financial Holdings (BFH) would move from MidCap400 to SmallCap600 and Unifi Inc (UFI US) would get deleted from the 600.
This insight presents the issues and the flows, which are not to be separated. 


United States

Twitter, Inc. provides online social networking and microblogging service. The Company offers users the ability to follow other users activity, read, and post tweets. Twitter serves customers worldwide.

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Twitter Inc (TWTR US)

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Elon Sold More Falling Tesla Stock. Margin Calls? Twitter Failing? Bank Demands? Likely All Three.

Elon sold billions more of Tesla near 2-yr lows, signaling he & Twitter need serious cash NOW. His banks know why & they want Elon to buy back from...

Vicki Bryan

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The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

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S&P DJI Indices are implementing a couple of changes Monday and Tuesday as Twitter gets the boot on Monday, and there are shifts in the 400/600...

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Twitter's banks really want to unload its $13B LBO debt set up before int rates spiked to multi-yr highs, and still can't sell it at 50-60...