• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    It Is Reported That Shandong Ruyi Refuses To Sell Lycra At A Low Price, But Hopes To List It

    2020/8/7 18:07:00 0

    Shandong Ruyi

    Shandong Ruyi, a fashion group once known for its ambition to become a Chinese version of LVMH, ignored a proposal by Lycra creditors to sell the textile maker and instead sought the possibility of making the business public, two people with direct knowledge of the situation told Reuters.

    In 2019, Shandong Ruyi technology group, which is heavily in debt, bought the controlling right of Lycra from Koch industrial group (Koch) for us $2.6 billion, and the transaction borrowed about US $1 billion.

    Leica's weak financial performance prompted some creditors to hire Alvarez & Marsal, a restructuring company, as advisers because of concerns about possible default, two sources said.

    In the past two months, a & M has approached potential buyers who are interested in it and declined to be named for reasons of confidentiality, one of the people said.

    However, the person familiar with the matter said that as Ruyi opposed the idea, the group was more willing to retain Lycra when the company was looking for other rescue methods, so no agreement was reached.

    Another source said Ruyi believed that the valuation of Lycra would be better by listing rather than by trading. Last year, the group was listed on the board. The source declined to give his name because the information was not public.

    Ruyi group and a & M declined to comment.

    Moody's downgraded Lycra's debt rating by two notches to caa2 in April, with a stable outlook after the company had downgraded it two notches in December last year.

    The rating agency said the outbreak exacerbated the weakness of the global economic outlook, but Laika's high leverage and Shandong Ruyi's debt were also reasons.

    Ruyi was rated caa3 by Moody's. In a report this week, the agency estimated that Ruyi's debt to EBIT ratio, a measure of leverage used to compare borrowing to operating profit, will rise from 10 times in 2019 to 25 to 30 times in the next two years.

    Ruyi group holds 53.4% shares of Lycra, Koch industrial group holds 22.2% and Itochu Group subsidiary CFC holds 15.5%. Minority shareholders hold the remaining 8.9% of the shares.

    The plight of Ruyi and Leica has been reflected in the sharp fall in the price of bonds issued by the former to buy the latter. According to refinitiv, the median price of Lycra's 7.5% bonds fell from 80 cents at the end of 2019 to 55 cents in April in May 2025. Thursday's offer was 69.375 cents.

    Become LVMH's wild hope

    Ruyi, whose roots are in the textile industry, has been buying heavily since 2015, including French fashion group SMCP, aquascutum and the men's wear brand gieves & Hawkes of Savile row.

    In 2018, Ruyi Group Chairman Qiu Yafu told Reuters LVMH was the company's model, adding: "we are far from it, but this is our vision."

    But Ruyi has been struggling to cope with the debt it carries to finance these deals. The company narrowly met the December deadline to repay $345 million in offshore bonds, while a billion yuan of onshore paper creditors have agreed to extend the March maturity to December.

    In May this year, renown, a Japanese clothing group owned by Ruyi, filed for bankruptcy.


    • Related reading

    The 23Rd China International Leather And Fur Fashion Design Competition, Blue Pulse Won The Crown!

    News Republic
    |
    2020/8/7 11:25:00
    61

    The National Brand Trend Is Surging Into The Second Dimension

    News Republic
    |
    2020/8/6 19:27:00
    65

    Top 100 List Of China'S Clothing Industry Released In 2019

    News Republic
    |
    2020/8/6 13:38:00
    0

    Ready To Go, National Clothing Brand Mets Bonwe Starts To Break The Game

    News Republic
    |
    2020/8/6 13:17:00
    0

    UNIQLO Japan Sales Growth In July

    News Republic
    |
    2020/8/5 16:37:00
    2
    Read the next article

    BBC X "Astro Boy" Brand New Co Branded Series

    BBC X "Astro Boy" brand new co branded series appreciation is about the launch of new products co branded Billionaire Boys Cl

    主站蜘蛛池模板: 丰满岳乱妇在线观看视频国产| 国产大学生粉嫩无套流白浆| 免费一级大片儿| 一个人www免费看的视频 | 精品国精品国产自在久国产应用男| 日韩a级毛片免费观看| 国产成人免费A在线视频| 久久综合噜噜激激的五月天| 黑人巨茎大战俄罗斯美女| 日韩福利视频一区| 国产卡一卡二卡乱码三卡| 久久狠狠高潮亚洲精品| 野花社区在线播放| 无码成人AAAAA毛片| 四虎最新紧急更新地址| 一级黄色香蕉视频| 精品999久久久久久中文字幕| 女人扒开裤子让男人捅| 亚洲黄色小说网| 4399理论片午午伦夜理片| 欧美人与物videos另类xxxxx| 国产欧美日韩综合精品二区| 久久精品综合电影| 色播在线永久免费视频| 成人毛片在线观看| 免费a级毛片在线播放| 国内精品视频在线观看| 波多野结衣免费观看视频| 97在线公开视频| 猫咪AV成人永久网站在线观看| 夜夜燥天天燥2022| 亚洲国产成人久久三区| 欧美性另类高清极品| 日本三级韩国三级美三级91| 四虎在线永久精品高清| peeasian人体| 欧美性理论片在线观看片免费| 国产成人精品免费视频软件| 中日韩亚洲人成无码网站| 直接观看黄网站免费视频| 国产高清一区二区三区免费视频 |