12th December 2019
Key Atheneum Experts
Former Senior Global Product Manager – Jaguar Land Rover
Former Chief Engineer – JLR
Former UK Sales Director – JLR
Key Information
Automotive
HQ – UK
Operations – Global
Jaguar Land Rover global sales dropped 3.4% year-on-year for November. This comes despite a 29% year-on-year increase in sales in China – a 5th consecutive month of double-digit sales growth in the country. In addition, Moody’s Investors Service, S&P Global Ratings and Fitch Ratings all have a negative credit outlook for JLR. This is largely due to uncertainty around Brexit and the US threat of tariffs on car imports from Europe.
Key Atheneum Experts
Former Head of Innovation – EDF
Former CEO – EDF Renewable Services
Former Head of Business Continuity and Crisis Management – EDF
Key Information
Energy
HQ – UK
Operations – UK
French energy provider EDF have recently attracted demand for a €500m hybrid capital bond issue. Bond trading volumes jumped more than four times the daily average on 10th December. Recent news of investment in a $221m Ivory Coast Biomass Plant, French nuclear energy availability rising to 74%, and the announcement of Graphitech (a graphite nuclear decommissioning unit) are said to have influenced this spike.
Key Atheneum Experts
Former Head of Business Development and Commercial – Tullow Oil
Former Managing Director – TO
Former VP – Kosmos Energy (rival)
Key Information
Energy
HQ – UK
Operations – Global
The oil and gas giant Tullow have lost around 80% of its market value in the past month, increasing interest for acquisition. A CEO exit, major production-guidance revision and dividend suspension all point towards shaky times to come for Tullow. There have been large bond outflows in the last month.
Key Atheneum Experts
Former Senior Sales Director – Intelsat
Former CMO – Inmarsat (rival)
European VP Sales – Eutelsat (rival)
Key Information
Communications
HQ – Luxembourg
Operations – Global
Intelsat stock has declined over 70% this year with a significant drop coming in the last month. The US Federal Communications Commission recently announced that it would publicly auction C-band spectrum for 5G telecommunications development – this has heavily affected satellite operators such as Intelsat. Bond prices have halved in the last month.
Key Atheneum Experts
Former Director of Business Development – Teva Pharma
Former VP & Head of Pricing Europe – Teva Pharma
Head of Corporate Strategy & Innovation – Roche (rival)
Key Information
Pharmaceuticals
HQ – Israel
Operations – Global
Teva Pharmaceuticals recently announced that they have completed a debt tender offer of $2.1bn, upsizing their initial $1.5bn offering. The Israeli-US firm ended Q3 with a net debt of $25.7bn, significantly down from the $34bn figure it had around this time 2 years ago. However, rising legal liabilities and eroding revenues due to the flatlining US market for generics have led to a downward outlook for the firm.