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Trung Nguyen
- Trung Nguyen
Softbank Group - Event Flash - Launches 6-Part USD And EUR Notes Offer...
Softbank Group has launched a benchmark multi-currency senior unsecured bond offering. The proposed transaction comprises RegS fixed-rate USD notes with 3.5-, 5.5- and 10-year tenors, along with EUR tranches with 4-, 6- and 8-year tenors. The proceeds are mainly earmarked for the refinancing of existing foreign-currency senior notes and partial repayment of a 2026 bridge loan facility (for the group's OpenAI investment). We believe the USD 3.5Y, 5.5Y and 10Y notes will price at c. 7.5%, 7.75...
Haidje Rustau ... (+6)
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Trung Nguyen
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: Odido, Italmatch Chemicals, Borr Drilling, Benteler International, Bertrand Franchise, TAP, Lecta, TGS ASA, Air Baltic, Klockner Pentaplast, Selecta, Softbank Group
Trung Nguyen
- Trung Nguyen
Si Yong Ng
- Si Yong Ng
Clariane - New Issue Assessment - Lucror Analytics
Long-term medical accommodation and speciality care provider Clariane has priced a EUR 500 mn 5NC2 unsecured bond offering at 6.875%. The proceeds, alongside EUR 23 mn of cash on balance sheet, will be used to repay existing Schuldschein due 2026 and 2027, Euro private placement bonds due 2027 and 2028, as well as pay transaction fees. We find the new bonds as trading at broadly fair value, and therefore recommend that investors "Hold" the CLARFP notes.
