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Swissport : Focus Emission
Swissport plans to issue € 780m of new notes split into a €500m 5NC2 secured tranche and a € 280m 5.5NC2 unsecured tranche. Proceeds from the bond issue as well as new bank debt will be used to refinance debt at the level of Swissport Financing. We recommend to subscribe to the new notes at yields of 5.75% (secured) and 8.75% (unsecured). We cut our recommendation on the small legacy notes to Reduce (vs. Neutral).>...
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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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