Oddo BHF - Acqua e Sapone (Bubbles) : We are initiating coverage with a Neutral recommendation.

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Oddo BHF

Anne-Barbara Nicco

Acqua e Sapone (Bubbles) : We are initiating coverage with a Neutral recommendation.

Bubbles (Acqua e Sapone) yesterday successfully priced its € 850m senior secured bond issue in two tranches: - . € 400m fixed-rate 7NC3 with a coupon of 6.5% (vs. an IPT of 6.75-7.0% and a price talk of 6.5-6.75%) - . € 450m FRN 7NC1 with a coupon of EUR+425bp and an issue price of 99.50% (vs. an IPT of EUR+450bp/price 99-99.50% and a price talk of EUR+425-450bp/price 99.50%). - - >Credit opinion - We are adopting a Stable credit opinion on the issuer to take account of a r...

19/09/2024 1 EN

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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.

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Analysts

Anne-Barbara Nicco

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Acqua e Sapone (Bubbles) : We are initiating coverage with a Neutral recommendation.

Tubacex : Middle East catalysts expected to reactivate re-rating

ODDO : August watch exports surprisingly up, looks like a misleading signal

ODDO : August watch exports surprisingly up, looks like a misleading signal

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