EU CONSUMER STAPLES: Essity: no cost to play EoD (x2)

(ESSITY Baa1/BBB+/NR) 

So no cost to play (i.e. can treat Essity as normal high-grade risk to park into). On EoD as above no firm view given Essity withholding licensing details

but on the margin we do see language in docs as supportive to Essity (not legal advice but we would note the solvent reorganisation subclause).

Essity is being represented by Linklaters, Hedge Fund consortium by White & Case.