Report
Nyrstar : Trafigura: “Should I stay or should I go?â€
Following the profit warning in September and the downgrades of the rating by S&P and Moody’s, the prices of Nyrstar bonds have been in free fall. The 2019 straight bond is now trading at a cash price of c. 82% (ytm of 37%), while the 2024 straight bond is trading at c. 67% (ytm of 17%). The 2022 CB 2020 put trades at a cash price of 73% (ytp of 27%). - We highlighted in our previous report published in June that the group will not have enough liquidity to cover the repayment of th...
Underlying
Nyrstar
Provider
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.
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