LEVFIN SNAPSHOT: European Credit Risk Hits 9-Month Low
2020-11-18 13:58:48.373 GMT

By Libby Cherry
(Bloomberg) — Corrects analyst attribution in fifth bullet
* A gauge of credit risk for European high-yield debt tightened
to the lowest since late February amid signs Pfizer will apply
for authorization for its coronavirus vaccine within days.
* The Markit iTraxx Europe Crossover index tightened ~7.5bps to
* Europcar’s EU600m bonds due Nov. 2024 jump 2.4 cents on the
euro to 54.3, the highest since late August: CBBT data compiled
by Bloomberg
** Progress on a vaccine may mean that Europcar is able to
recover more quickly than anticipated which would be positive
for bondholders, said Mateo Salcedo, analyst at Spread Research
in a phone interview
*** NOTE: Europcar Pulls Earnings Forecast Amid Resurgent Virus
in Europe
* Tereos’ EU300m bonds due Oct. 2025 leap 2.6 cents on the euro
to 107 the highest price since they were issued last month
** The co. reported that 1H20 adjusted Ebitda through Sept. 30
increased by 114% y/y to EU237m: statement Wednesday
** NOTE: French Sugar Producer Tereos Bonds Surge on Earnings
* Banijay’s EU400m bond due March 2026 falls 1.3 cents on the
euro, the biggest drop in nearly two months, to 100.6 […]