Report
Picard : Adopting Buy recommendation on newly issued 2029 notes
Following yesterday's bond issue, we are initiating coverage on the newly issued 2029 notes with a Buy recommendation. Although the final pricing is lower than the estimate we established in our report published on 25 June, Moody's upgrade of the rating since then offers slightly more reassurance. What's more, the notes still offer a discount to the most comparable bonds, in particular Bertrand Franchise 2030 notes (fixed and FRN). - >Successful placement of the new bond i...
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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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