42TE Coop bond
Posted: November 28th, 2023, 8:01 am
Anyone have any special insight into the potential impact of this announcement by Coop?
https://www.co-operative.coop/media/new ... ransaction
My thoughts are it’s been issued formally by RNS on the coop website for the bond holders but is light on detail, possibly to avoid diluting the message to pensioners that there’s no change in their position. But it hints at there being a surplus left over - and the fact the accounting surplus in the annual report is recognised on the balance sheet means any surplus should eventually revert to the company - no doubt that would take time to crystallise. With or without any surplus, it feels like an important derisking event.
https://www.co-operative.coop/media/new ... ransaction
My thoughts are it’s been issued formally by RNS on the coop website for the bond holders but is light on detail, possibly to avoid diluting the message to pensioners that there’s no change in their position. But it hints at there being a surplus left over - and the fact the accounting surplus in the annual report is recognised on the balance sheet means any surplus should eventually revert to the company - no doubt that would take time to crystallise. With or without any surplus, it feels like an important derisking event.