Ineos : Despite the deterioration of its results and an exceptional dividend, INEOS easily returns to the bond market
Despite declining 2018 results, the payment of a substantial exceptional dividend in February 2019 and mixed prospects for 2019, INEOS issued last week a new € 770m secured 2026 bond with a coupon of 2.875%. The proceeds of the issue will be used to repay the secured 4% 2023 bond of € 770m. This issue gives us the opportunity to review the issuer and our recommendations on all INEOS notes in euros. - - - - - - - - - > - - - ...Mytilineos Holdings is an industrial group engaged in the sectors of Metallurgy, EPC, Energy, and Defence. Co. and its subsidiaries are engaged in three main operating business segments: Metallurgy, Constructions and Energy. Co. and its subsidiaries monitor its performance on Metallurgy and Mining Sector through the subsidiaries Aluminium S.A. (Alumina-Aluminium) and Sometra S.A. (Zinc-Lead). Co., through its subsidiary, METKA S.A., is an EPC Constructor in Greece.
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