Oxley Holdings Ltd. – Potential Refinancing Requirements in 2021

Lakshmi Iyer, CFA

Credit

<p>We provide an update on <a href="https://www.smartkarma.com/entities/oxley-holdings-ltd" target="_blank" data-smartkarma-citation="entities:1097:1" rel="noopener">Oxley Holdings (OHL SP)</a> after their FY 20 results release.  The company laid out plans for upcoming debt repayments. However, there is little room for error - in case the company is not able to execute these plans perfectly on schedule, we think some refinancing will be required. </p><div class="content-highlight"><p><em>Fundamental credit research focused on Asian high yield, including coverage of areas which are generally overlooked such as Indian finance companies and non-USD denominated credit (SGD).  Sector agnostic. Research process consists of rigorous bottom-up company analysis combined with spotting market dislocations to provide trade ideas.</em></p></div>

We provide an update on Oxley Holdings (OHL SP) after their FY 20 results release.  The company laid out plans for upcoming debt repayments. However, there is little room for error - in case the company is not able to execute these plans perfectly on schedule, we think some refinancing will be required. Fundamental credit research focused on Asian high yield, including coverage of areas which are generally overlooked such as Indian finance companies and non-USD denominated credit (SGD).  Sector agnostic. Research process consists of rigorous bottom-up company analysis combined with spotting market dislocations to provide trade ideas.

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