Report
Maxime Kogge

Cheplapharm Arzneimittel : Focus Emission

After raising € 1.3bn of facilities on the loan markets in the last two years, Cheplapharm is making its high-yield bond debut with a € 400m offering. The group has been used in recent years by big pharmas to offload mature, genericised products as the likes of AstraZeneca and Sanofi increasingly focused on early-stage products or blockbusters. As unsexy as it may seem, this activity made Cheplapharm's fortune as it was able to pay low multiples for products that proved cash mach...
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
Maxime Kogge

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