MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Valeo (FRFP Baa3 Neg/BB+ Neg/NR): Through Schaeffler

CONSUMER CYCLICALS
Credit BulletsBulletHomepagemarkets-real-timeCredit
  • FRFP 5.875 04/29 now trading 5bp through SHAEFF 4.75 08/29 (Baa3 Stable/BB+ Stable/BB+ Stable).
  • Over the past year FRFP has traded wider apart from 3 brief periods that swiftly reversed with a high of +30bp in April.
  • Schaeffler equity has outperformed Valeo by ~43% over the same period.
  • Both affirmed FY guidance at 1Q. We could see Valeo outlooks move to stable, with 1x leverage targeted for FY24. Both were 1.5x levered at FY23.
Keep reading...Show less
92 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.
  • FRFP 5.875 04/29 now trading 5bp through SHAEFF 4.75 08/29 (Baa3 Stable/BB+ Stable/BB+ Stable).
  • Over the past year FRFP has traded wider apart from 3 brief periods that swiftly reversed with a high of +30bp in April.
  • Schaeffler equity has outperformed Valeo by ~43% over the same period.
  • Both affirmed FY guidance at 1Q. We could see Valeo outlooks move to stable, with 1x leverage targeted for FY24. Both were 1.5x levered at FY23.
Keep reading...Show less