UK 08:37 Wednesday, 23 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Afren's (AFR) recent woes put it right up there with Quindell (QPP) as the must do short for February. Where Quindell has one deadline this month, Afren has two:
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Comments
Paul Curtis
Agreed equity looks barge pole territory but not a no brainer short?
Assume shareholders and new investors can cobble together $150m they can replace the spare $150m capacity on the Ebok first lien. (Was $200m but appears $300m facility of which $50m was due end Jan)
This $150m could therefore go ahead of bondholders. It’s possible Afren then survive until Feb 2016 when that killer $250m Bond due repayment. Equity could enjoy big bounce in anticipation of a year’s grace for markets to improve and orderly sale.
Since the new money would be ahead of Bondholders it would be pretty safe investment and big incentive for shareholders to cough up?