Report
Autodis : Tap Issuance of € 175m
Autodis announced a € 175m tap of its € 340m 2022 FRN, callable on 1 August 2018. The initial price talk is set at 99.25%-99.50% (-1.5 to -1.75 pt compared with last Friday’s bond price), i.e. a YTW of 4.5% to 4.6% (pricing to the maturity). On this level, the FRN bond offers a pick up on the fixed-rate Autodis bond, while its attractiveness is greater in the current market conditions and the tap issuance will boost the liquidity of the bond to € 515m. We maintain our Stable cre...
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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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