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Carole Braudeau
  • Carole Braudeau

Credit Morning 12/22/2025

Paris prosecutor's office launches probe into Uranium theft from Somaïr in Niger|Maxeda: weak Q3 results and announcement of restructuring process|Coty appoints Markus Strobel as new chairman and interim CEO|Golden Goose: HSG acquires majority stake|The Belgian government is considering increasing its stake in Ageas according to the Belgian newspaper de Tijd|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 22/12/2025

Enquête du parquet de Paris sur le vol d’Uranium de la Somaïr au Niger|Maxeda : faibles résultats T3 et annonce du processus de restructuration|Coty nomme Markus Stroble comme nouveau Chairman et CEO par interim|Golden Goose : HSG acquiert une part majoritaire au capital|Le gouvernement belge envisageait d'augmenter sa participation dans Ageas selon le journal belge De Tijd|

Christophe-Raphaël Ganet
  • Christophe-Raphaël Ganet
Christophe-Raphaël Ganet
  • Christophe-Raphaël Ganet
Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/NBFIs growth, bank exposures in NBFIs, covered bond risk w...

Second highest YoY growth for NBFIs in 2024, up 9.4%. German and French banks lead in non-bank financial exposures. European Parliament considers lower risk weights for CRR eligible covered bonds

Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/NBFIs growth, bank exposures in NBFIs, covered bond risk w...

Second highest YoY growth for NBFIs in 2024, up 9.4%. German and French banks lead in non-bank financial exposures. European Parliament considers lower risk weights for CRR eligible covered bonds

 PRESS RELEASE

VIRBAC: Feline Hyperthyroidism: Virbac acquires Thyronorm

VIRBAC: Feline Hyperthyroidism: Virbac acquires Thyronorm Acquisition provides Virbac with a leading specialty product, in a growing segment, to improve the quality of life for senior cats.We are delighted to announce the acquisition of an innovative drug from Norbrook to stabilize feline hyperthyroidism. Virbac will ensure the direct distribution of this treatment under the Thyronorm brand in the United Kingdom, Australia, and New Zealand, and under the Felanorm brand in the United States. In Europe, distribution will continue to be managed by Boehringer Ingelheim and Elanco (in Germany) b...

 PRESS RELEASE

VIRBAC: Hyperthyroïdie féline : Virbac acquiert Thyronorm

VIRBAC: Hyperthyroïdie féline : Virbac acquiert Thyronorm Cette acquisition apporte à Virbac un produit de spécialité de premier plan, sur un segment en croissance, pour améliorer la qualité de vie des chats âgés.Nous sommes ravis d'annoncer l'acquisition auprès de Norbrook d’un médicament innovant pour stabiliser l'hyperthyroïdie féline. Virbac assurera la distribution directe de ce traitement sous la marque Thyronorm au Royaume-Uni, en Australie et Nouvelle-Zélande ainsi qu’aux États-Unis sous la marque Felanorm,. En Europe, la distribution restera gérée par Boehringer Ingelheim et Elanco...

 PRESS RELEASE

Casino Group: Quatrim redemption

Casino Group: Quatrim redemption Repayment confirmation to Quatrim secured bondholders Paris, December 15, 2025 Casino Group announces that it has repaid on December 15, 2025, €30.0m of the secured debt carried by its subsidiary Quatrim, including €29.3m of principal and €0.7m of accrued interest (including € 0.3m of PIK interests for the period between April 6, 2025 and October 5, 2025 and € 0.4m of accrued interests for the period between October 6, 2025 and December 14, 2025). Following this transaction, the nominal amount of the Quatrim secured bonds is €169.1m and the accrued PIK in...

 PRESS RELEASE

Groupe Casino : Remboursement Quatrim

Groupe Casino : Remboursement Quatrim Confirmation d’un remboursement des obligations sécurisées Quatrim Paris, le 15 décembre 2025 Le Groupe Casino annonce qu’il a procédé, le 15 décembre 2025, à un remboursement de 30,0 M€ de la dette sécurisée portée par sa filiale Quatrim, dont 29,3 M€ de capital et 0,7 M€ d’intérêts courus portant sur le capital remboursé (y compris 0,3 M€ d’intérêts PIK pour la période comprise entre le 6 avril 2025 et le 5 octobre 2025 et 0,4 M€ d’intérêts courus pour la période entre le 6 octobre 2025 et le 14 décembre 2025). Après l’opération, le montant nominal...

Benoit Valleaux
  • Benoit Valleaux

ODDO : Private banks expected to continue to grow

The three listed Swiss private banks, EFG International, Julius Baer and Vontobel, benefit from favourable operating momentum with sustained net inflows in private banking and an expected improvement in their cost/income ratio (-5.5 points in four years) and RoTE (+1.5 points in four years). Among them, we prefer Julius Baer (initiation on Outperform, target price CHF 68), for the turnaround in its profitability and the resumption of share buybacks as of next year. We are initiating coverage on ...

Carole Braudeau
  • Carole Braudeau

Credit Morning 12/12/2025

Eutelsat completes its rights issue of € 670m|Proposals for simplifying banking regulations by the ECB|BPCE and Generali abandon their asset management joint venture project|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 12/12/2025

Eutelsat finalise son augmentation de capital avec DPS de 670 m EUR|Propositions de simplification de la réglementation bancaire par la BCE|BPCE et Generali abandonnent leur projet de coentreprise en gestion d’actifs|

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