ENXTPA:MMBMedia
Is Lagardere (ENXTPA:MMB) Cheap On Its €500 Million Bond Refinance?
Lagardere (ENXTPA:MMB) is back in focus after the group placed a €500 million, 6-year bond at a 5.25% coupon, aimed at refinancing existing bank and Vivendi debt.
The bond comes as Lagardere’s share price has been easing, with a 30-day share price return down 7.21% and the year-to-date share price return down 5.13%, while the 1-year total shareholder return has declined 8.16%. This suggests recent refinancing steps have so far been met with cautious rather than momentum-driven...