reports
- Felix Fischer
- Felix Fischer
- Markus Schmitt
- Markus Schmitt
- Felix Fischer
- Haidje Rustau
- Peter Low
- Tanvi Arora
- Haidje Rustau
- Peter Low
- Trung Nguyen
- Markus Schmitt
Stada Arzneimittel : Refinancing of SS FRNs; apparently high demand gi...
Stada offered initially 7NC1 EUR 550m SS FRNs to refinance non-portable SS FRNs and amounts drawn under the RCF and later materially upsized the transaction in a unique move to address the EUR 600m SS FRNs due 2030. Closing of the CapVest/Stada transaction (a very large one for CapVest with reportedly EUR 10bn AuM) is expected for Q1 26. We do not expect regulatory headwinds. We change our Credit Opinion to Stable (vs. Positive) as Stada left the IPO route. The refinancing is a leverage-neutral ...
- Markus Schmitt
Stada Arzneimittel : Refinancing of SS FRNs; apparently high demand gi...
Stada offered initially 7NC1 EUR 550m SS FRNs to refinance non-portable SS FRNs and amounts drawn under the RCF and later materially upsized the transaction in a unique move to address the EUR 600m SS FRNs due 2030. Closing of the CapVest/Stada transaction (a very large one for CapVest with reportedly EUR 10bn AuM) is expected for Q1 26. We do not expect regulatory headwinds. We change our Credit Opinion to Stable (vs. Positive) as Stada left the IPO route. The refinancing is a leverage-neutral ...
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Tanvi Arora
- Trung Nguyen
- Haidje Rustau
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Trung Nguyen
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: Boels, Progroup, Rekeep, Stada, Salt, Iliad, PureGym, Lowell, TDC NET, Eolo, Allwyn (formerly Sazka), Altice International, CBR Fashion, Profine, United Group, Versuni, Canpack, Intrum, Industria Macchine Automatiche, Altice France (SFR), Tele Columbus, Loewen Play, Techem, Best Secret, Neopharmed, Polynt, TAP, Air France-KLM, Kem One, Advanz Pharma, Eircom, Nissan Motor, Samvardhana Motherson, S...
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Trung Nguyen
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: Progroup, Rekeep, CBR Fashion, Advanz Pharma, Versuni, Boels, Salt, Altice International, Eircom, Stada, Canpack, Neopharmed, Stena AB, CABB, Adler Pelzer, Iliad, TDC NET, Altice France (SFR), United Group, Lowell, Nissan Motor, Klockner Pentaplast, Profine, Benteler International, Arxada
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Trung Nguyen
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Felix Fischer
- Jayanth Kandalam
- Peter Low
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Felix Fischer
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Trung Nguyen
- Felix Fischer
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: PeopleCert, Stada, Kiloutou, Loxam, CeramTec, Progroup, Playtech, Tele Columbus, CBR Fashion, Best Secret (Schustermann & Borenstein), Grunenthal, Novafives, Intrum, Profine, Flos B&B Italia (formerly International Design Group), Odido, Multiversity, Paprec Group, Cheplapharm, Engineering Group, Itelyum Group, Motel One, Tereos, Iberconsa, Stena AB, Mooney (formerly SisalPay)
- Felix Fischer
Europe HY Trade Book - May 2025 - Lucror Analytics
The Europe HY Trade Book for May 2025 includes current trade recommendations drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. We also discuss the US tariff situation and key related impacts.
SCHP SECHE ENVIRONNEMENT
PFD PREMIER FOODS PLC
AMS AMS AG
CO CASINO GUICHARD-PERRACHON SA
VK VALLOUREC SA
TLW TULLOW OIL PLC
EO FAURECIA SA
105I SAPPI LIMITED
TEVA.N TEVA PHARMACEUTICAL INDUSTRIES LIMITED SPONSORED ADR
LBTYA LIBERTY GLOBAL PLC CLASS A
CSTM CONSTELLIUM SE CLASS A
CCK CROWN HOLDINGS INC.
RXL REXEL SA
DBG DERICHEBOURG SA
725180 STADA ARZNEIMITTEL AG
NOKIA NOKIA OYJ
TNET TELENET GROUP HOLDING NV
TUI1 TUI AG
NEX NEXANS SA
VED VEDANTA RESOURCES PLC
VCP VICTORIA PLC
AF AIR FRANCE-KLM SA
BBD.B BOMBARDIER INC. CLASS B
SYNT SYNTHOMER PLC
INTRUM INTRUM AB
888 888 HOLDINGS PLC
IPF INTERNATIONAL PERSONAL FINANCE PLC
ENQ ENQUEST PLC
EDR EDREAMS ODIGEO SA
TC1 TELE COLUMBUS AG
9984 SOFTBANK GROUP CORP.
103M SASOL LIMITED
TIT TELECOM ITALIA S.P.A.
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
TALK TALKTALK TELECOM GROUP PLC
TATAMOTORS TATA MOTORS LIMITED
PL8 PLAYTECH PLC
ARW ARROW GLOBAL GROUP PLC
NEMAKA NEMAK S.A.B. DE C.V.
SPIE SPIE SA
CEXA CEMEX SAB DE CV (ADR)
ARD ARDAGH GROUP S.A. CLASS A
PFL PFLEIDERER GROUP SA
DIGI DIGI COMMUNICATIONS NV
CDR CODERE S.A.
GAME GAMENET GROUP SPA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC
AXA AXACTOR SE
BORR SECURITAS DIRECT AB CL B
BORR DRILLING LTD
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