Report

Quadient : Buy recommendation on the new 2025 bonds

Publication date 05/02/2020 08:08 - Writing date 05/02/2020 08:0415:17 - Equity data - Reco : Neutral - Target : 21 EUR - Equity Analyst: Jean-François Granjon - - +33 (0)4 72 68 27 05 - / - / - - / - - - - - - - - - - - - - - - - - - Quadient issued in mid-January a new 2025 bond of € 325m bearing a 2.25% coupon in order to finance a tender offer for the 2.5% 2021 notes. The issuance gives us the opportunity to update the issuer's newsflow and review our r...
Underlying
Quadient SA

Neopost supplies mailroom equipment, offering products for franking, folding & inserting, addressing, address cleansing, tracking, tracing letters, parcels & the supply chain. Co. also offers various services, including consulting, maintenance, financial services & online service. Co.'s activities can be summed up to 2 segments: Mailroom Solutions & Communication & Shipping Solutions, divided into 9 operations: Automated mail opening, Management of incoming mail & traceability of important mail, Address printers, Automated insertion equipment, Intelligent franking, Financing solutions, Data quality, Customer Communication Management and Shipping Solutions, mainly in Europe & North America.

Provider
Oddo BHF
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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