Dufry AG : Dufry returns to the bond market, as expected
Dufry has announced an € 850m-equivalent senior note issue in two tranches: i/ a min. € 400m tranche due 2028 (7NC3), and ii/ a min. CHF 300m tranche due 2026 (5NC2). Proceeds from the offering are intended to be used to refinance almost half of the existing bank debt due Nov. 2022 and for general corporate purposes. We are adjusting our existing recommendations and advise subscribing to the 2028 issue from 3.375%. - >Dufry has begun refinancing its bank debt - Dufry p...Dufry is a travel retail company. Co. operates over 1,650 shops worldwide. Co.'s shops are either duty free or duty paid shops, located in airports. Co.'s product categories include: Perfumes and Cosmetics; Confectionery, Food and Catering; Wine and Spirits; Watches, Jewelry and Accessories; Tobacco goods; Fashion, Leather and Baggage; Literature and Publications; Electronics; and Toys, Souvenirs and other goods.
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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