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Data as of December place them as the largest amounts in national papers. At the equity level, few investment funds had relevant positions in their portfolios.
One of the actors who took special relevance from this day, after the announcement of the start of the judicial reorganization process of Enjoy, are the bondholders of the company casino operator.
Data from RiskAmerica shows that at the end of December, there were $ 69,503.8 million in the company’s current local debt in the hands of market players.
The oldest stock it was in the hands of the EuroAmerica life insurance company, reaching $ 11,940.8 million, between series I and J bonds.
Other relevant bondholders are the fund managers of Principal and BTG Pactual, with more than $ 8 billion each. They are followed by Penta’s life insurance company, with $ 7,846 million and MBI’s fund manager with $ 7,534.5 million.
According to data as of December last year, the Banchile AGF also has local papers of Enjoy, with $ 15,936 million in the portfolios of two funds: $ 13,492.7 million in the investment vehicle High Performance Debt and $ 2,443.6 million in the Banchile Alliance mutual fund. It is about 2.7% of the total bonds issued by Enjoy
These actors, they say from the market, will take a relevant role in the Enjoy process, while the company tries to maneuver its obligations and avoid bankruptcy.
Shareholders
On the equity side, which has seen its value fall aggressively during the day, exposures are lower.
In the world of funds small cap (with lower market capitalization), major players in the segment, Enjoy is not a common bet. Funds small cap Pioneer, from Moneda Asset Management, Toesca, LarrainVial Credicorp and Falcom had no papers from the casino operator as of December 2019, according to figures from the Commission for the Financial Market (CMF).
Among those who did have these securities in their portfolio at the beginning of the year, they are positions that do not exceed 2%. The few exceptions are the BTG Pactual Chilean small shares fund, which had 4.32% of its assets invested in Enjoy to December; Chile Banchile Small Cap Investment Fund, with 2.73%; and Santander Small Cap with 2.43%. In none of these cases is the casino firm one of the largest positions.
In the case of AFP investments, data from the Superintendency of Pensions as of March this year show that pension funds have neither Enjoy stocks nor bonds in their portfolios.
Enjoy’s assets were already under pressure in recent months, as the temporary shutdown of the tourism, hospitality and casino industries due to the coronavirus deepened the blow of the protests in the third quarter of last year in the country. This added to the fact that the firm already came with a weakened financial position has triggered a strong depreciation of its shares and its bonds.
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