LEVFIN SNAPSHOT: Tourism-Linked Bonds Decline on Covid Curbs
2020-09-24 12:47:33.758 GMT
By Libby Cherry
(Bloomberg) — Bonds in the travel and leisure industries
reacted to news of fresh steps by governments to stem the
coronavirus pandemic in Europe as notes of TUI, the world’s
largest tour operator, and French hotel chain Accor, declined.
* TUI’s EU300m bonds due Oct. 2021 fell 3 cents to 91.8, the
largest drop since July
* Accor’s EU500m perpetual bonds fall 3 cents on the euro to
** France is among countries tightening restrictions on city
life as Europe reemerges as a pandemic hotspot
* Codere’s EU500m notes due Nov. 2021 fall a further 1.7 cents
on the euro, after closing 3.5 cents down Wednesday, according
to data compiled by Bloomberg
** Opening of physical gaming activities in Argentina, a market
that previously accounted for as much as a quarter of the
Spanish firm’s revenues and Ebitda, “seems unlikely in the
short-term,” analysts at Spread Research said in an emailed note
to clients
* AA’s GBP570m bonds due July 2022 rose as much as 0.8 pence on
Thursday, after the roadside assistance group announced plans to
progress with talks with private equity groups exploring an
offer for the company
* CMA CGM’s EU750m notes due Jan. 2025 fall 0.8 cents to 90.7
after the shipping firm signed an accord to acquire 30% of
Groupe Dubreuil Aero Wednesday
* The Markit iTraxx Europe Crossover index widened ~14bps to
~348.6 bps, widest since August