Report
Joan Sehim

Verallia : Great wine ageing well

In this report, we reinitiate our coverage of Verallia, which is undoubtedly one of our top picks in the packaging sector. The 2028 and 2031 bonds have slightly outperformed the BBB market since the start of the year, with total return of +4.0% and +5.4% respectively (vs. +2.8% for the ICE BofA BBB Euro index), thanks to excellent operating performance and agency upgrades. The 2028 (110bp) and 2031 (140bp) bonds are currently trading at a slightly lower level than the five-year a...
Underlying
Verallia SAS

Verallia SAS Formerly known as Verallia SASU. Verallia SASU is a France-based company, which operates as a producer of glass packaging solutions. The Company manufactures a number of jars and bottles for various markets, including the still and sparkling wine, spirits, food, as well as the beer and nonalcoholic sectors. Apart from France, the Company also operates in many countries in Western Europe, Eastern Europe and South America, among others.

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.

Analysts
Joan Sehim

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