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Cc: 'Richard Kahn' < <mailto Subject: Bond idea Hi Jeffrey > > 1. Buy Casino Groupe (French supermarket company with operations in Europe and South America) bonds a. COFP 4.407% maturing Aug 2019 b. Yields 5.25% in EUR and then do a EURUSD cross currency swap into USD. This effectively creates a USD
D denominated bond yielding —8.60% c. Net leverage of 3.52x d. Rated BB by S&P e. EUR 3bIn market cap f. Notional outstanding on this bond is EUR 674MM. Company had EUR 2.2b1n in cash and EUR 3.1bIn in undrawn credit facilities maturing in 2020-22 g. JPM overweight the credit h. I would do $3MM
2 mentions1 same-page
Page ?Same page
Cc: 'Richard Kahn' < <mailto Subject: Bond idea Hi Jeffrey > > 1. Buy Casino Groupe (French supermarket company with operations in Europe and South America) bonds a. COFP 4.407% maturing Aug 2019 b. Yields 5.25% in EUR and then do a EURUSD cross currency swap into USD. This effectively creates a USD
D denominated bond yielding -8.60% c. Net leverage of 3.52x d. Rated BB by S&P e. EUR 3bIn market cap f. Notional outstanding on this bond is EUR 674MM. Company had EUR 2.2b1n in cash and EUR 3.1bIn in undrawn credit facilities maturing in 2020-22 g. JPM overweight the credit h. I would do $3MM
2 mentions1 same-page
Page ?Same page
Cc: 'Richard Kahn' < <mailto > > Subject: Bond idea Hi Jeffrey 1. Buy Casino Groupe (French supermarket company with operations in Europe and South America) bonds a. COFP 4.407% maturing Aug 2019 b. Yields 5.25% in EUR and then do a EURUSD cross currency swap into USD. This effectively creates a USD
2 EFTA_R1_01833674 EFTA02623877 c. Net leverage of 3.52x d. Rated BB by S&P e. EUR 3bIn market cap f. Notional outstanding on this bond is EUR 674MM. Company had EUR 2.2bIn in cash and EUR 3.1bIn in undrawn credit facilities maturing in 2020-22 g. JPM overweight the credit h. I would do $3MM
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2 mentions1 same-page
Page ?Same page
[email protected]» Cc: 'Richard Kahn' < Subject: Bond idea Hi Jeffrey 1. Buy Casino Groupe (French supermarket company with operations in Europe and South America) bonds a. COFP 4.407% maturing Aug 2019 b. Yields 5.25% in EUR and then do a EURUSD cross currency swap into USD. This effectively creates a USD
c. Net leverage of 3.52x d. Rated BB by S&P 2 EFTA_R1_01834666 EFTA02624400 e. EUR 3bIn market cap f. Notional outstanding on this bond is EUR 674MM. Company had EUR 2.2bIn in cash and EUR 3.1bIn in undrawn credit facilities maturing in 2020-22 B. JPM overweight the credit h. I would do $3MM
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Mutual Connections (4)
Entities connected to both South Africa and EUR 674MM
