Placeholder for NFNG/NFFHA hybridholder funds going through to a...

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    Placeholder for NFNG/NFFHA hybridholder funds going through to a Dutch special-purpose entity to fund the pointy end of Nufarm's securitised receivables facility with Rabobank - and the ~GBP40m of deficits in their UK pension plans.

    On the surface it looks much better with the sale proceeds from the South American business and an end to those novel bartering arrangements, but still needs a 'buyer beware' sticker because of how (unnecessarily) convoluted their financing structure is. They probably need to clean this up a bit before they're allowed to sit at the grown-ups table.
    Last edited by XavierX2: 13/07/20
 
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