Oddo BHF - Tereos : New bond issue to refinance the 2023 bonds

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Oddo BHF

Delphine Chauvin

Tereos : New bond issue to refinance the 2023 bonds

Earlier this week, Tereos announced the launch of an offering of notes due April 2027 in order to begin refinancing the 4.125% June 2023 bonds. The placement went well, as the size of the new bond was revised from EUR 300m to EUR 350m and the coupon was set at 4.75%, slightly below the IPT ("5% area"). This shows the progress made compared to just over a year ago when Tereos placed its 2025 bonds at 8%. In this Special Comment, we take a quick look at this successful refinancing ...

13/01/2022 1 EN

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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Analysts

Delphine Chauvin

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Tereos : New bond issue to refinance the 2023 bonds

Cellnex : Evolution of coverage

Cellnex : Evolution de la couverture

ArcelorMittal : A little further from the American dream

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