Report
Viridien : Viridien: Stairway to refinancing
Viridien has launched the long-awaited refinancing of its EUR/USD 2027 bonds through the offering of a $ 950m (evenly split between EUR/USD) 5.5NC2 bonds. The company is experiencing a positive momentum with good E&P capex levels on top of a leaner cost structure following the termination of the Shearwater agreement and cost saving initiatives at the SMO segment. As such, a significant improvement in both EBITDA and FCF is expected going forward. We expect the company’s strategy to continue to prioritize debt reduction going forward, with no shareholder distributions during our forecast period. We are terminating the recommendation (Neutral) on the existing EUR bond which will be called on April 1, 2025.
Underlying
VIRIDIEN
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.
Mateo Salcedo
Other Reports on these Companies
Other Reports from Oddo BHF
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.