Street Talk First Look

Monday

February 13, 2023

Street Talk

First Look

Good evening,

Star Entertainment Group stole the day on what had been a hectic morning for financial results.

One week before its half-year numbers, Star put out a four-page earnings update and outlook with the lot. There were fresh half-year and full-year trading updates and guidance, impairments, regulatory issues – you name it – and a share price crash to top it all off.

Star is testing the patience of even its most rusted-on supporters. Fund managers are now thinking about an equity raising and/or asset sales to shore up the group’s balance sheet. The risk of either has grown.

In Street Talk, we check in on Newcrest Mining’s deal before its earnings numbers on Thursday, and see who is and isn’t taking an early look at the EastLink toll road in Melbourne.

We also have news of QIC’s latest private debt investment and a $75 million raising for an electric trucking company.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk Editors

Tomorrow’s headlines

Street Talk

Star Entertainment mess brings raising, asset sales into consideration

The group has put the frights through even its most rusted-on supporters, and fund managers are running the numbers on potential capital-raising and asset-sale scenarios to shore up its balance sheet.

Street Talk

Unsolicited advice follows unsolicited bids at Newcrest Mining

The company is taking the slow route to assessing its $24.4 billion bid from Newmont, delaying formal talks with institutional shareholders until after its first-half results on Thursday.

Street Talk

KKR, QIC stew on EastLink stake; Transurban a potential roadblock

KKR and QIC’s infrastructure investment arms are among the parties mulling bids for a stake in Melbourne’s EastLink toll road, although both are wary of running into category killer Transurban Group.

Street Talk

QIC pops up in Timezone-owner TEEG’s debt stack

There’s movement in the debt stack of Quadrant Private Equity-backed entertainment play TEEG, after talks with other PE firms petered out last year.

Street Talk

EV play Janus Electric taps Acton Advisory for $75m raising

Janus Electric, which retrofits traditional diesel trucks to run on electric batteries, has tapped Acton Advisory to round up $75 million in fresh funding from investors keen on energy transition plays.

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