ION Platform's €600 Million 2032 Bond Jumps 3.5 Cents as Q2 EBITDA Rises 14.3%
Updated
Updated · Bloomberg · Jul 9
ION Platform's €600 Million 2032 Bond Jumps 3.5 Cents as Q2 EBITDA Rises 14.3%
3 articles · Updated · Bloomberg · Jul 9
Summary
ION Platform's September 2032 bond climbed 3.5 cents to 78.6 after the financial software provider posted second-quarter results that beat estimates and eased concern among bondholders.
Revenue rose 5.1% year over year to $634.5 million, while EBITDA increased 14.3% to $430.9 million, according to an investor presentation seen by Bloomberg.
Lower cash payments to ION's parent company added to the reassurance for investors in the company's previously beaten-down debt.
The move suggests credit investors are responding not just to earnings strength but also to improved cash retention at the operating company.