ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 03/27/2026

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 27/03/2026

Sealed Air : Issuance Focus

Sealed Air is tapping the primary market to finance the LBO by CD&R announced last November. As part of the $ 7.2bn financing package, the company plans to issue a single euro-denominated tranche, equivalent to $ 600m, maturing in 2033 (7NC3). The issue will be rated B1/B+ and will be a major test for the market.

Sealed Air : Focus Emission

Sealed Air is tapping the primary market to finance the LBO by CD&R announced last November. As part of the $ 7.2bn financing package, the company plans to issue a single euro-denominated tranche, equivalent to $ 600m, maturing in 2033 (7NC3). The issue will be rated B1/B+ and will be a major test for the market.

The war and the US budget deficit

Wars are the kind of events that damage public finances. First of all, war has a cost. After a month of operations, the bill stands at around $ 30bn (0.1% of GDP). This is a drop in the ocean compared with the federal budget deficit (>5%), but the cost will increase with the duration of the conflict. In addition, the uncertainty shock tends to reduce economic activity and consequently erode the tax base made up of wages and profits. Last but not least, the rise in oil prices is stoking fears of inflation and thus putting off or dashing hopes of monetary easing. This increases the inflation pre...