Maxeda : There’s no place like home

Between a rather disappointing liquidity situation in Q3, an unexpected month-long lockdown in the Netherlands and growing concerns about inflation, purchasing power and economic growth in the wake of the Russian-Ukrainian conflict, Maxeda’s senior notes due 2026 have lost 6 points since the beginning of the year and are now trading at a discount to their rating category with a ytw of 6,6% ask, while housing-related markets should remain buoyant in 2022 despite current uncertaint...