Report
Delphine Chauvin

Europcar Mobility Group : Update on liquidity, guarantees on EC Finance fleet bonds and Volkswagen potential interest

Pending Q2 2020 earnings release on 28 July, we are taking a closer look at Europcar's financial structure and the guarantee mechanisms protecting the EC Finance 2022 bonds vs. the Europcar 2024 and 2026 bonds. We also provide an update on the liquidity of Europcar, which has fortunately received nearly € 0.4bn in new financing to help it withstand the crisis, as well as on the latest rumours over changes in the ownership structure. - In conclusion, we remain highly cautious on th...
Underlying
Europcar Mobility Group SA

Europcar Groupe SA is part of the mobility sector as a handler in rental vehicles. Co.'s objective is to provide the mobility solution that meets its customers' needs in a market where expectations are constantly changing. Co. offers mobility solutions extending from short-term vehicle rental, via its three main brands, Europcar®, Ubeeqo® and InterRent®, and chauffeur services to car-sharing and a platform offering mobility services. Ubeeqo, a specialist in car-sharing, and E-Car Club, a car-sharing start-up offering an entire fleet of electric vehicles in the United Kingdom, have broadened Co.'s mobility offer through its subsidiary, Europcar Lab.

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
Delphine Chauvin

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