Fnac Darty : Une performance stellaire des obligations depuis l’émission
Compte tenu de la forte surperformance observée sur les obligations Fnac Darty 2024 et 2026 depuis leur émission fin avril (+3.5 points et +5.8 points), nous profitons de la publication du S1 2019 pour réévaluer l’attractivité des souches. Même si nous conservons notre avis crédit stable, il faut bien admettre qu’avec 0.5% de YTW sur la souche 2024 et 1% de YTW sur la souche 2026, le potentiel est désormais techniquement plus réduit. Nous abaissons pour cette raison notre recomma...Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.
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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