Oddo BHF - BPCE : A defensive and stable credit profile, excellent credentials for this season

Report

Oddo BHF

Carine Maciol

BPCE : A defensive and stable credit profile, excellent credentials for this season

Although September is looking stormy, with continuing tensions in Turkey, the resumption of tough political negotiations in Italy and the Brazilian elections, we advise investors to reduce portfolio volatility by investing in BPCE. - The risk profile is low because the bank's business is largely based in France and focused on retail banking, insurance, asset management and services to private customers and SME. - Capital adequacy is solid, with a CET1 of more than 15.2% and a total c...

29/08/2018 13 EN

Provider

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.

See profile

Analysts

Carine Maciol

Other Reports from Oddo BHF

Pierre François Merveille

Pierre François Merveille

SES : New benchmark bond issue to replace the Intelsat bridge facility

SES is taking advantage of favorable market conditions to offer 5-year and 8-year of benchmark senior notes. The bond issue will help to fully address the long-term funding of the $ 4.6bn (€ 4.2bn) Intelsat acquisition, by replacing in all or in part the € 1.07bn bridge loan that was raised prior to the deal (closing expected in H2 2025). Based on the existing curve, we would derive yields of c. 3.9% on the new 5-year notes and 4.5% on the new 8-year notes. Given the risk entailed with the Intelsat acquisition and the competitive environment, we would add a 30 premium on top and recommend subs...

6h / 31m 6h / 31m 1 FR

Pierre François Merveille

Pierre François Merveille

SES : New benchmark bond issue to replace the Intelsat bridge facility

6h / 31m 6h / 31m 1 EN

Carole Braudeau

Carole Braudeau

Credit Morning 06/17/2025

Les Mousquetaires: put option agreement with Colruyt to acquire 81 Colruyt stores in France|SoftBank Group seeks to raise up to $ 4.9bn through the sale of TMUS shares (Bloomberg) (Bloomberg)|Coty is looking for buyers (WDD)|United Group revamps its management|

6h / 37m 6h / 37m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

BPCE : A defensive and stable credit profile, excellent credentials for this season

SES : New benchmark bond issue to replace the Intelsat bridge facility

SES : New benchmark bond issue to replace the Intelsat bridge facility

Credit Morning 06/17/2025

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe