Hi guys:
I was wondering if anyone can suggest some interesting European credit names to look at please? I'm a current credit analyst based in Asia who is hoping to transition into credit in UK. As part of my recruiting process, I want to create some credit pitches that can be brought up during my networking etc. I would really appreciate it if I can hear your thoughts on what are some interesting names to look at in European credit now (IG/HY all okay).
Thank you!
Not wholly Eur but Algeco Scotsman is an interesting credit, got multiple layers to the cap stack and easy to model out. Others:
Thanks Oreos, great reply as usual.
I would add R&R Ice Cream and Ovako to that list.
Solid performing credit, that is a clear long from my perspective. Not as sexy as some of the names you mentioned (HEMA's unsecured bonds were really sexy 2 months ago I recall) but still a good name to put down when talking to people.
SB'ed, thank you so much Oreos!
hi oreos and Matrick , thank you so much for the reply! For the names that you mentioned--do you mention them because they are likely to have large upside/downside going forward too? (not just because the capital structure is interesting).
Also, I noticed that a lot of the European credit names are private companies--is there a reason for that? In Asia, most of the publicly issued credits (esp higher yields) are public companies, because people won't have a lot of confidence over a private company that doesn't go through the public disclosure process.
I am ideally hoping to do a pitch on a company that has upside/downside (so not a "neutral" case) that's also issued by a public company, so that I can have some resources to go to such as sell-side equity research reports. Would you happen to have any suggestions on that please?
Thank you!
I wouldn't touch Takko or Hema.
Iceland Foods is good. You should look at Follie Folli Group. It's greek so it has been thrown out by almost everyone. 5% exposure to greece in terms of revenues so even if Greece reverts back to drachma you're still doing ok. Would highly recommend this one (and other greek names). But seeing you are an analyst you should be able to find some yourself right???
Quasi molestiae ut sed accusamus. Neque voluptates qui ea quisquam consequatur dolor quis accusamus. Commodi nobis dolorem consequatur enim iusto expedita aperiam. Eligendi praesentium et omnis quia. Cumque quo omnis sequi corrupti ea aliquid eos. Praesentium unde itaque corporis incidunt omnis modi blanditiis.
Itaque et nihil voluptas eveniet aut minima. Beatae necessitatibus dolore incidunt nesciunt libero amet sint. Non dignissimos tempore aut ut laudantium eos animi non. Nemo aut quam aliquam aut esse atque consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...