MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Dufry (now Avolta) (DUFNSW; Ba2/BB+) bolt-on

CONSUMER CYCLICALS
Credit BulletsBulletHomepagemarkets-real-timeCredit

Acquires 'Free Duty' - a Hong Kong focused operator - as part of its APAC growth strategy. Will on-board a expected CHF250m revenue (€264m) this year (vs. DUFNSW ~CHF13.5b is ~2%).


Says funded by cash on hand and leverage neutral "with no impact on the company’s deleveraging commitments." We have generally liked DUFNSW curve as on strong governance paired with organic market growth in travel. new 31s have been well bid in, €27/28s still show some value but note the high beta these lines trade with - better levels may emerge on index decompression.

Keep reading...Show less
96 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Acquires 'Free Duty' - a Hong Kong focused operator - as part of its APAC growth strategy. Will on-board a expected CHF250m revenue (€264m) this year (vs. DUFNSW ~CHF13.5b is ~2%).


Says funded by cash on hand and leverage neutral "with no impact on the company’s deleveraging commitments." We have generally liked DUFNSW curve as on strong governance paired with organic market growth in travel. new 31s have been well bid in, €27/28s still show some value but note the high beta these lines trade with - better levels may emerge on index decompression.

Keep reading...Show less