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10 things you need to know before the opening bell

8 days ago   |   By

Here's what you need to know before markets open.
1. Wirecard is set to miss the very first payment on $561 million worth of debt and join the notorious 'no coupon' club. The fintech group is due to make an interest payment of 0.5% on the bond in September. See the rest of the story at Business Insider NOW WATCH: What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence See Also: Here's how much every US state pays its teachers and how much they spend on each student The 50 best places to live in America, ranked The 33 best things we've bought on Amazon for under $25
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10 things you need to know before the opening bell

8 days ago   |   By

Here's what you need to know before markets open.
1. Wirecard is set to miss the very first payment on $561 million worth of debt and join the notorious 'no coupon' club. The fintech group is due to make an interest payment of 0.5% on the bond in September. See the rest of the story at Business Insider NOW WATCH: Why electric planes haven't taken off yet See Also: Here's how much every US state pays its teachers and how much they spend on each student The 50 best places to live in America, ranked The 33 best things we've bought on Amazon for under $25
Read more ...

 

Wirecard is set to miss the very first payment on $561 million worth of debt and join the notorious 'no coupon' club

8 days ago   |   By

German fintech Wirecard is set to miss the first payment on $561 million worth of bonds issued last year, the Financial Times reported.
The FT said Wirecard risks entering the infamous unofficial "no coupon at all club."
Wirecard is due to make an interest payment of 0.5% on the bond in September.
Wirecard filed for insolvency last week, and saw its former chief executive Markus Braun resign and be arrested on suspicion of market manipulation and false accounting practises.
Moody's gave Wirecard's bonds a rating of Baa3, the lowest rung of investment-grade.
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