Report
Pierre François Merveille

OVHcloud : Focus Emission

OVHcloud, a French provider of cloud-based services, is planning an inaugural bond issue of € 470m. Proceeds from the new 2031 unsecured notes and a € 450m term loan will be primarily used to repay an existing € 500m term loan and fund a € 350m share buyback offer (OPRA) that was initially financed by a € 470m bridge loan. Net leverage will increase to 3.1x as of November 2024 (vs. 2.1x on a reported basis) as a result of the transactions. We recommend subscribing to the new 6NC2 unsecured notes at a yield of 5.25% or above.
Underlying
OVH GROUPE

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre François Merveille

ResearchPool Subscriptions

Get the most out of your insights

Get in touch