Report
International Design Group : Issuance Focus
IDG is marketing a € 400m 5NC2 senior secured high yield bond issue. The aim is to refinance the € 400m 6.50% 2025 SSN issued in 2018 via the call at par. Transaction fees (€ 16m) will be deducted from existing cash. The transaction will be virtually neutral on IFRS 16 adjusted net leverage, at 4.5x vs. 4.4x previously (5.4x unadjusted). The group will have the option of redeeming 10% of its outstanding debt at 103% per annum before the first call date. The 101% change ...
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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.
Anne-Barbara Nicco
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