Goldman Recommends Investors Ditch Debt of Apollo’s Wagamama

Goldman Sachs Group Inc.’s credit traders are recommending their clients exit positions in bonds issued by UK restaurant chain Wagamama Holdings Ltd following a recent rally in the price of the debt.

The US bank’s trading and sales team said investors should sell out of positions in Wagamama’s bonds on what it sees as a relatively high cash price and worsening fundamentals, according to a note sent to clients this week and seen by Bloomberg News.