Report
WFS : Issuance Focus
Promontoria Holding 264 plans to issue EUR 660m of secured notes due 2023 in two tranches (fixed and floating rate notes) to fund the acquisition of WFS, which should close during Q4. The news notes were assigned preliminary ratings of B2/B by Moody’s and S&P.Price talk is 6.75%-7.00% for the fixed tranche and E+625/650bp for the floater. This is quite attractive compared with our fair yield estimate (6.25%) and we recommend investors to subscribe to the new issue.>...
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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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