Cicor Technologies Ltd : Vers un nouveau champion européen dans l’EMS

Cicor, groupe suisse spécialisé dans les services de fabrication électronique (EMS), devrait bénéficier de la croissance de ses marchés cibles (l’aéronautique & défense, l’industrie et le médical), et de la poursuite de sa stratégie de croissance externe, entamée en 2021 (TMVA 25/28e BPA 25%). Le rachat à finaliser de TT Electronics doublera quasiment son périmètre et constituerait un catalyseur de revalorisation du titre (OC porté à 255 CHF). Initiation à Surperformance avec OC à 227 CHF.

Cicor Technologies Ltd : A new European EMS champion in the making

Cicor, a Swiss group that provides electronic manufacturing services (EMS), is set to benefit from growth in its target markets (aerospace & defence, industrial and medical sectors) and the pursuit of the external growth strategy it initiated in 2021 (EPS CAGR 25/28e of 25%).The TT Electronics deal, due to close, will almost double its business scope and act as a catalyst for the stock's rerating (TP raised to CHF 255). We are initiating coverage with an Outperform rating and a target price of C...

Asmodee : Issuance Focus

Asmodee has announced plans to issue € 320m of six-year NC2 senior secured notes. The issuance aims to refinance existing 2029 FRNs (€ 320m) through a call at par. These notes were issued in November 2024 as part of a dual financing package that also included senior secured notes due in 2029 with a 5.75% coupon, which remains in place (its first call date being in December 2026). Both senior secured notes will be pari passu after the issuance. The transaction is leverage-neutral at 1.8x net at e...

Asmodee : Focus Emission

Asmodee a annoncé un projet d’émission d’obligations senior sécurisée de 320 m EUR sur 6 ans NC2. L’objet est de refinancer l’obligation existante FRN 2029 (320 m EUR) via le call au pair. Elle avait été émise en novembre 2024 dans le cadre d’un financement dual comprenant également une émission senior sécurisée de maturité 2029 et de coupon 5,75% qui reste, elle, en place (sa première date de call étant en décembre 2026). Les deux obligations seniors sécurisées seront pari passu, post transacti...

Credit Morning 12/09/2025

Asmodee is preparing new bond issue|Polynt: Black Diamond came back for what it was looking for in the first place|CMA CGM is launching the placement of an Air France-KLM exchangeable bond|

Morning Crédit 09/12/2025

Asmodee prépare une nouvelle émission obligataire|Polynt: Black Diamond came back for what it was looking for in the first place|CMA CGM lance le placement d’une obligation échangeable en actions Air France-KLM|

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 12/09/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 12/09/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 09/12/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 09/12/2025

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