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France
Showing 1 to 10 of 15 results using the term “France”
Dry Rivers, Live Fires: Europe’s High-Yield Summer; the Resilient and the Exposed From Europe’s Changing Climate Risk
Credit Research: Wayne Jambawo Relevant Document: El Niño Analysis Record-low river water levels and a severe wildfire season in Europe are hitting European high-yield issuers through six concurrent channels. To our mind, the most important credit consideration for investors is the risk that...
Published on Aug 14, 2026
Inetum to Carve Out Iberian, LatAm Divisions; Assets Marketed Off EBITDA of €140M
Reporting: Lucia Camblor; Robert Schach French IT services provider Inetum is carving out its Iberian and LatAm divisions, sources told Octus. The assets are being marketed off EBITDA of €140 million and generate €1 billion in full-year revenue, the sources said. Citi is the...
Published on Jun 22, 2026
European Direct Lender Portfolios Face Increased Stress in Q2 as Macro Headwinds Add to Existing AI Uncertainty; BDC Nonaccruals Surge Globally in Q1
Reporting: Sidney Watson, Annabel Kellett, Oscar Laurikka Relevant Items: Direct Lending Stress Monitor Q2 2026 (Excel) European BDC PIK Loans PCDO Dashboard Following a first quarter dominated by fears over an AI-driven software selloff, European lenders are not yet out of the woods, contending...
Published on Jun 30, 2026
Albea Group to Carve Out Tubes Segment After A&E Talks Stall; Q1 EBITDA Up 3% YoY to $44M
Reporting: Gregor Thompson, Lucia Camblor, Robert Schach Sponsor PAI Partners is looking to split its French cosmetics packaging manufacturer Albea Group in two and sell off the larger tubes segment after plans to amend and extend its €646 million term loan B, or TLB, due December 2027 earlier...
Published on Jun 9, 2026
Cerba SteerCo Goes Restricted, Holds Preliminary Talks With EQT Over Initial Proposal Envisaging 25% Senior Secured Debt Haircut, About €300M Sponsor Contribution
Reporting: Farooq Baloch, Gregor Thompson, Sidney Watson Sponsor EQT is sounding out creditors to French clinical labs business Cerba over a preliminary proposal involving a roughly €300 million equity injection in the business in exchange for a roughly 25% haircut of the senior secured debt,...
Published on Mar 27, 2026
Atalian’s New Consent Solicitation and Super Senior Debt Raise Has Shades of Selecta; Pro Rata or Non-Pro Rata, That is the Question
Legal Analysts: Aditya Khanna, Jamie McDougall, Chetna Mistry Key Takeaways Atalian launched its second consent solicitation in respect of its 8.5% Senior Secured Notes due 2028 in two weeks, seeking majority noteholder consent to make amendments that would pave the way for issuing €50 million...
Published on Feb 4, 2026
Seqens Appoints Rothschild as Financial Advisor, Commissions PWC to Prepare Independent Business Review Ahead of Restructuring Talks; Lender AHG Takes FA Pitches
Reporting: Robert Schach, Luca Rossi, Farooq Baloch Octus is hosting a deepdive webinar on Seqens this Wednesday, Nov. 5, at 10 a.m. GMT, which will focus on the sponsor’s options to restructure the company. Click HERE to register for the event. French pharmaceutical solution and...
Published on Nov 3, 2025
Covenant Analysis: Kem One’s AHG Proposed Uptiering Can Likely Be Structured With Only Majority Consent of the Senior Secured Noteholders; Super Senior Debt Consent May Present Hurdles
Legal Analysts: Bart Capeci, Aditya Khanna Key Takeaways An ad hoc group of about two-thirds of Kem One’s €450 million 2028 senior secured notes, or SSNs, is reported to be considering providing new super senior money and uptiering its existing bonds. The 2028 SSNs currently allow €47.5...
Published on Oct 27, 2025
Gibson Dunn Bondholder Group Considers Providing New Money to Ailing Kem One; Contemplates Potential Uptiering Transaction for Its Existing 2028 Holdings
Reporting: Sidney Watson, Luca Rossi, Harvard Zhang Legal Analysis: Bart Capeci Relevant Items: Forward Model – Q2’25 (Excel Download) Sustainability-Linked 2028 SSNs – Prelim OM Covenant Analysis Historical Financials on Fundamentals by Octus A group of Kem One’s...
Published on Oct 24, 2025
Seqens Creditors Form Ad Hoc Group; Legal Advisors to Pitch This Week
Reporting: Robert Schach, Luca Rossi, Gaia Freydefont An ad hoc group of creditors to French pharmaceutical solution and specialty chemicals producer Seqens has formed and will begin taking legal advisory pitches later this week, sources told Octus. The group includes some of the largest lenders...
Published on Sep 9, 2025