May 16, 2019 / 8:08 AM / 3 months ago

Thomas Cook bonds fall, CDS jump after latest profit warning

LONDON, May 16 (Reuters) - Shares and bonds in Thomas Cook Group Plc plunged and the cost to insure corporate debt jumped on Thursday after the British travel company’s latest profit warning, renewing debt worries even as the company received bids for its airline unit.

The 2022 euro-denominated bonds were down 13.5 euro cents at 53 cents in the euro at lowest on record, according to Tradeweb.

The cost of insuring debt issued by the company against default rose to 45 basis points from 34 at the close on Wednesday, IHS Markit data showed.

The London-listed shares were down 17% at 0804 GMT in early trading. (Reporting by Josephine Mason; Editing by Mark Potter)

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