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Loxam : Back on the bond market
Loxam has just completed the issue of its new EUR 600m senior secured bond, maturing in 2029 (5.5 years), the proceeds of which will be used to redeem early the 3.25% 14/01/25 note. The bonds were placed at 6.375%, at the bottom end of the range envisaged (vs. "whispers: High 6s" IPT: "6.5% area"), which nevertheless still leaves a slight premium over the "BB-" curve. - In this Special Comment, we take the opportunity to review the issuer. We maintain a Stable Credit Opinion. The ...
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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.
Delphine Chauvin
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