Nanterre, 25 February 2026 VINCI announces the successful issue of €500m of bonds exchangeable for ordinary shares of Groupe ADP due 2031 VINCI (the “Issuer”) has successfully placed bonds exchangeable for Groupe ADP’s shares (the “Shares”) (the “Bonds”). This transaction is part of VINCI's policy of value creation through optimising its cost of capital and actively managing its portfolio. The Bonds will have a maturity of 5 years, except in case of early redemption, exchange or purchase and cancellation. ...

Core Viewpoint - dsm-firmenich has successfully launched a €1.5 billion dual-tranche bond issuance aimed at refinancing existing bond maturities [1][2] Group 1: Bond Issuance Details - The bond issuance consists of two tranches: €750 million fixed-rate notes due 2031 with a yield of 3.00% and €750 million fixed-rate notes due 2038 with a yield of 3.75% [2][8] - The re-offer price for the 5-year bond tranche was set at 99.886%, resulting in a yield of 3.025% [2] - The re-offer price for the 12-year bond tranche was set at 99.100%, resulting in a yield of 3.845% [2] Group 2: Company Overview - dsm-firmenich is a Swiss company listed on the Euronext Amsterdam, with operations in nearly 60 countries and revenues exceeding €12 billion [4] - The company employs around 30,000 people globally and focuses on nutrition, health, and beauty, providing essential nutrients, flavors, and fragrances [4] - dsm-firmenich holds an A3 rating (stable outlook) from Moody's and an A- rating (stable outlook) from S&P [3]

Festi hf. has today completed the sale of a new bond series, FESTI 050331, issued under the Company’s ISK 8,000,000,000 issuance programme. The bonds are index-linked with a nominal value of ISK 4,200,000,000 and were sold at a yield of 3.95%. The bond series have five-year maturity with two equal payments per year. The settlement date is scheduled for 20 February 2026. Subsequently, an application will be submitted for the bonds to be admitted to trading on the Main Market of Nasdaq Iceland. The proceeds f ...

“Big Short” investor Michael Burry issued a warning Monday about Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) planning to issue 100-year bonds, drawing parallels to Motorola Solutions Inc.‘s (NYSE:MSI) downfall following a similar move in 1997.Burry Draws Motorola ComparisonWriting on X Monday, Burry stated, “Alphabet looking to issue a 100-year bond. Last time this happened was Motorola in 1997, which was the last year Motorola was considered a big deal.”Alphabet’s Bond Sale DetailsMultiple media outlets hav ...

Latin American companies and governments are issuing debt at a pace that has far exceeded expectations, with bond sales reaching record levels despite a volatile global backdrop tied to President Donald Trump's return to the White House.Issuers from the region have sold just over $184 billion in international bonds so far this year, nearly 50% more than in 2024 and the highest amount in data going back to 2014, according to Bloomberg. Bankers say it is likely the strongest year for Latin American bond issua ...

Core Points - Hepsor AS successfully completed its first bond offering under a 20-million-euro bond program, approved by the Estonian Financial Supervision Authority [1][2] - The bond issued has a nominal value of 1,000 euros, a fixed annual interest rate of 9.50%, and matures on 26 November 2028 [2] - The offering was oversubscribed by 1.4 times, with total subscriptions amounting to 8.5 million euros from 1,079 investors [3] Offering Details - Hepsor offered up to 6,000 bonds, with the option to increase by 2,000 bonds in case of oversubscription [2] - The distribution of subscriptions was 72.8% from Estonia, 24.6% from Latvia, and 2.6% from Lithuania [3] - The total volume of the offering was increased to 8 million euros due to oversubscription [3] Investor Insights - The management expressed gratitude to investors for their trust and support in Hepsor's growth objectives [4] - Strong investor confidence was noted, particularly from Latvian investors who subscribed for over 2 million euros [4] - The bond issuance reflects a positive perception of Hepsor as a developer of high-quality homes in Riga [4] Bond Trading and Tax Benefits - Bonds will be transferred to investors' accounts on 26 November 2025, with trading commencing on Nasdaq Tallinn Stock Exchange on 27 November 2025 [5] - Estonian residents can defer income tax on interest from the bonds by submitting an application to the issuer [6] Allocation Principles - Preference in bond allocation was given to existing Hepsor shareholders, employees, and institutional investors, who received 100% of their subscribed amount [7] - Other investors received 87.5% of their subscribed amount, with a minimum allocation of 10 bonds [7] Company Overview - Hepsor AS is a developer of residential and commercial real estate, operating in Estonia, Latvia, and Canada [8] - The company has developed 2,003 homes and nearly 44,787 square meters of commercial space over 14 years [8] - Hepsor is recognized for implementing innovative engineering solutions for energy-efficient buildings [8]

Core Insights - Tonner Drones successfully issued a €2.5 million bond, marking a significant step in its growth strategy following a recent restructuring and refinancing process [2][3] - The bond has a maturity date of December 31, 2027, with a 4% interest rate and includes warrants for bondholders, indicating a strategic move to enhance shareholder value [3][4] Company Overview - Tonner Drones specializes in developing technologies for the logistics sector and holds stakes in promising French drone manufacturers such as Elistair and Donecle [4] - The company's strategy focuses on increasing the value of its shareholdings through active asset management and generating additional revenue from royalties on patents [4] Financial Details - The bond issued will be reimbursed in cash and will bear a 4% interest rate, with bondholders receiving warrants equivalent to the bond amount [3][8] - The exercise price for the warrants is set at €0.03, representing an 11% premium to the 10-day volume-weighted average price (VWAP) [3][10] Management Commentary - The CEO of Tonner Drones expressed excitement about the company's development, highlighting the recognition of its values and expertise in the market [3] - The CEO also mentioned that the company now has a substantial cash reserve to be deployed strategically for optimal shareholder value [3]

Core Viewpoint - Sanofi has successfully priced a $3 billion offering of notes across five tranches, intending to use the net proceeds for general corporate purposes [1] Group 1: Offering Details - The offering consists of $400 million fixed rate notes due November 2027 at an interest rate of 3.75% [6] - It includes $500 million floating rate notes due November 2027, bearing interest at compounded SOFR plus 0.46% [6] - Additionally, there are $400 million fixed rate notes due November 2028 at an interest rate of 3.80% [6] - The offering also features $500 million floating rate notes due November 2028, with interest at compounded SOFR plus 0.54% [6] - Lastly, $1,200 million fixed rate notes due November 2032 are included, bearing an interest rate of 4.20% [6] Group 2: Underwriters - Barclays Capital Inc., BNP Paribas Securities Corp., and BofA Securities, Inc. acted as Global Coordinators for the offering [2] - The Joint Book-Running Managers include Barclays Capital Inc., BNP Paribas Securities Corp., BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., and Natixis Securities Americas LLC [2] Group 3: Company Overview - Sanofi is an R&D driven, AI-powered biopharma company focused on improving lives and delivering growth through innovative medicines and vaccines [3] - The company aims to address urgent healthcare, environmental, and societal challenges, guided by a commitment to scientific progress [3] - Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY, indicating its presence in major financial markets [4]

Core Insights - State Bank of India (SBI) raised ₹7,500 crore through its Basel III compliant Tier 2 bond issuance at a coupon rate of 6.93% for the current financial year [1][3] - The bonds have a tenor of 10 years with a call option after five years and each anniversary date thereafter [1][3] Investor Response - The bond issue received an overwhelming response, with bids approximately three times the base issue size of ₹5,000 crore, totaling 101 bids from a diverse set of qualified institutional bidders [2] - Participation included various investors such as provident funds, pension funds, mutual funds, and banks, indicating strong market confidence in SBI [2]

Core Points - Corporación Inmobiliaria Vesta, S.A.B. de C.V. announced the closing of US$ 500 million in senior unsecured notes with a 5.500% interest rate due in 2033 [1] - The issuance received a credit rating of BBB-/Positive from both S&P Global Ratings and Fitch Ratings [1] Company Summary - Vesta is a fully-integrated, internally managed real estate company focused on owning, managing, developing, and leasing industrial properties in Mexico [1]