Core Viewpoint - Syensqo SA has decided to exercise its make-whole redemption option to redeem €500 million of its senior bonds, indicating a strategic move to manage its financial resources effectively [1][2][3]. Group 1: Redemption Details - The company will redeem all outstanding €500 million bonds with a fixed interest rate of 2.750% due on December 2, 2027, on March 31, 2026 [1][2]. - The redemption amount will include the make-whole redemption amount plus accrued interest, calculated by the Calculation Agent and communicated to bondholders [2]. Group 2: Financial Strategy - The Chief Financial Officer of Syensqo stated that exercising the make-whole option allows for efficient allocation of cash resources, contributing to deleveraging and strengthening the company's investment-grade profile [3]. Group 3: Company Overview - Syensqo is a science company focused on developing innovative solutions that enhance various aspects of life, with a workforce of over 13,000 associates across 30 countries [4]. - The company's innovations aim to contribute to safer, cleaner, and more sustainable products across multiple sectors, including healthcare, consumer goods, and transportation [5].

Core Viewpoint - Koninklijke KPN N.V. has announced the indicative results of its tender offer for its £850,000,000 5.75% Notes due 2029, with a significant portion of the notes still outstanding [2][4]. Group 1: Tender Offer Details - The tender offer for the 2029 Notes was initiated on 3 February 2026, alongside an offer for £400,000,000 5.00% Notes due 2026 [3]. - As of the expiration deadline on 10 February 2026, valid tenders for the 2029 Notes amounted to £182,458,000 [5]. - The expected settlement date for the accepted notes is projected to be 13 February 2026, contingent upon the satisfaction of the New Financing Condition [7]. Group 2: Acceptance and Pricing - The company anticipates that the final acceptance amount for the 2029 Notes will be set at £182,458,000, with no proration expected [5][6]. - Pricing for the 2029 Notes Offer is scheduled to occur around 1:00 p.m. (Amsterdam time) on the same day as the announcement [6].

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LONDON, Feb. 03, 2026 (GLOBE NEWSWIRE) -- NOTICE TO THE HOLDERS OF: USD 500,000,000 FIXED RATE ENHANCED CAPITAL ADVANTAGED PREFERRED SECURITIES ("LP V ECAPS") ISSUER: LEHMAN BROTHERS UK CAPITAL FUNDING V LP ("LP V") ISIN: XS0301813522 LIQUIDATION OF LB GP NO.1 LTD ("the Company") AND IMPLICATIONS FOR HOLDERS OF LP V ECAPS THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INT ...

LONDON, Feb. 03, 2026 (GLOBE NEWSWIRE) -- NOTICE TO THE HOLDERS OF: EUR 225,000,000 FIXED RATE TO CMS-LINKED GUARANTEED NON-VOTING, NON-CUMULATIVE PERPETUAL PREFERRED SECURITIES ("LP I Securities") ISSUER: LEHMAN BROTHERS UK CAPITAL FUNDING LP ("LP I") ISIN: XS0215349357 LIQUIDATION OF LB GP NO.1 LTD ("the Company") AND IMPLICATIONS FOR HOLDERS OF LP I SECURITIES THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ...

Event Overview - The company disclosed its 2025 annual performance forecast, expecting a net profit attributable to shareholders of 960-1,030 million yuan, representing a year-on-year growth of 41.9%-52.2%. The "asset disposal income" is expected to contribute approximately 850 million yuan to pre-tax profit. The company anticipates a non-recurring net profit of 270-320 million yuan, a year-on-year decline of 52.8%-43.9% [2]. Profit Analysis - The company's estimated net profit for Q4 2025 is around 680 million yuan, showing a year-on-year increase of 221.4% and a quarter-on-quarter increase of 1223.5%. The non-recurring net profit is estimated at 15 million yuan, reflecting a year-on-year decrease of 87.6% and a quarter-on-quarter decrease of 64.3%. The decline in non-recurring net profit is primarily due to a decrease in motorcycle sales, with total sales of 386,000 units in 2025, down 12.3% year-on-year [3]. Motorcycle Segment - The company has significantly improved its product definition capabilities, launching high-end models such as the Sai 800RS and Zhi 900 in H1 2025, which have been well-received. The company also introduced the Reno 900, its first three-cylinder ADV motorcycle, at the Milan exhibition, featuring a 900cc engine with 120 horsepower and 93 Nm of torque [4]. - The international strategy remains a top priority, with 48,000 units of large-displacement motorcycles exported in 2025, marking a year-on-year increase of 15.3%. Sales of 800cc+ models exceeded 3,400 units, showing significant growth [4]. All-Terrain Vehicle (ATV) Development - The company is actively expanding its all-terrain vehicle (ATV) product matrix, having developed multiple models including ATV, UTV, SSV, and snowmobiles. Two ATV models (ATV600 and ATV1,000) have entered mass production, while UTV1,000 and SSV1,000 are in the development phase [5]. Competitive Advantages - The company is expected to leverage its "brand strength + product strength + channel strength + organizational capability" as competitive advantages. The large-displacement motorcycle business is anticipated to provide substantial growth momentum for the company [6]. Financial Forecast - The company's financial projections for 2024-2027 include: - Revenue: 6,031 million yuan (2024), 5,482 million yuan (2025), 6,546 million yuan (2026), 7,772 million yuan (2027) - Net profit attributable to shareholders: 677 million yuan (2024), 1,004 million yuan (2025), 510 million yuan (2026), 581 million yuan (2027) - Earnings per share (EPS): 1.29 yuan (2024), 1.91 yuan (2025), 0.97 yuan (2026), 1.10 yuan (2027) [7].

Summary of Conference Call Records Industry Overview - The military industry shows significant differentiation in fundamentals, with traditional internal installation sectors under pressure and varying performances among individual stocks. Longjiang Securities recommends a bottom-up stock selection approach, focusing on companies with a second growth curve, such as commercial aerospace and overseas computing power [1][3]. Key Companies and Their Insights - **Guangdong Hongda** has developed into a military industrial group through both organic and external growth, achieving progress in exporting advanced ammunition and high-end equipment. The company has a robust order book in its traditional civil explosives and mining services business, with orders nearing 40 billion yuan. Its future prospects are promising due to a market-oriented mechanism [1][5][10]. - **AVIC Xi'an Aircraft Industry Group (中航西飞)** and **Aero Engine Corporation of China (航发动力)** are highlighted as key stocks for 2026, with AVIC Xi'an benefiting from its positioning in commercial aircraft and high-end military trade, while Aero Engine is noted for its significant role in the engine supply chain and high premium in military trade [2][6]. Market Trends and Catalysts - The commercial large aircraft and domestic engine sectors are expected to be major themes in the military industry for 2026, with projects like C919 and Changjiang 1,000 set to see important industry information releases. These developments will benefit companies like AVIC Xi'an and Aero Engine [6][8]. - The high-end military trade breakthrough is most favorable for main engine manufacturers, including AVIC Shenfei, AVIC Xi'an, and Aero Engine. Upcoming global aviation exhibitions, such as the Singapore Airshow and the Saudi World Defense Show, are crucial for promoting China's high-end weaponry exports [7]. Investment Opportunities - The domestic commercial aerospace industry presents significant investment opportunities, with a complete and independent supply chain. Key companies in this sector include Aerospace Electronics and Fudan Microelectronics, which align with the development direction promoted by SpaceX [13][14]. - Guangdong Hongda's second growth curve is characterized by the high-end military trade breakthrough and low-cost sustainable development, supported by strategic acquisitions that enhance its capabilities in ammunition and aerospace components [11][12]. Additional Insights - The differentiation in the military sector is more pronounced at the individual stock level, with companies like Beimo High-Tech and Ruichuang Weina showing strong performance. Longjiang Securities emphasizes the importance of market-driven incentives for companies like Guangdong Hongda, which is actively expanding into overseas markets [3][4][9]. - The company’s unique development advantages stem from its state-owned background and market-oriented mechanisms, which include competitive procurement strategies and performance-linked management incentives [10].

Company Overview - VGP is a pan-European owner, manager, and developer of high-quality logistics and semi-industrial properties, as well as a provider of renewable energy solutions [3] - Founded in 1998 as a family-owned Belgian property developer in the Czech Republic, VGP now operates in 18 European countries with approximately 412 full-time employees [3] - As of June 2025, VGP's Gross Asset Value, including 100% joint ventures, was €8.3 billion, and the company had a Net Asset Value (EPRA NTA) of €2.6 billion [3] Tender Offer Details - The tender offer was announced on 8 January 2026, with a Final Acceptance Amount set at €100,000,000 [2] - The offer pertains to VGP's outstanding EUR 500,000,000 1.625% fixed-rate green bonds due 17 January 2027, of which €320,100,000 remained outstanding at the time of the offer launch [5] - The New Issue Condition has been satisfied, allowing bondholders to access further information through the tender results announcement available on VGP's website [2]

Core Viewpoint - Burford Capital plc has announced the early redemption of its £175,000,000 5.000% guaranteed bonds due 2026, with a repayment date set for January 30, 2026, indicating a strategic financial decision by the issuer [2][3]. Group 1: Bond Redemption Details - The issuer intends to redeem the full outstanding principal amount of the bonds on the specified repayment date [3]. - The redemption price will be the higher of 100% of the principal amount or a calculated amount based on the Gross Redemption Yield as determined by the Financial Adviser [4]. - The Financial Adviser appointed for this redemption is Allia C&C, and accrued but unpaid interest will also be paid on the repayment date [5]. Group 2: Company Overview - Burford Capital is a leading global finance and asset management firm focused on law, involved in litigation finance, risk management, and legal advisory activities [7]. - The company is publicly traded on both the New York Stock Exchange and the London Stock Exchange, indicating its significant presence in the financial markets [7].

Group 1 - The issuer of the bonds is Tryg Forsikring A/S, with an ISIN of DK0030484621 and a new maturity date set for 26 February 2026 [2] - The settlement amount for the bonds is 1,011,106.44 SEK per SEK 1,000,000 nominal amount, which includes any arrears of interest [2] - Tryg Forsikring A/S has announced that it will exercise the Ordinary Call for all outstanding bonds at the Call Price on the Call Date [2][3] Group 2 - On the Call Date, the amount payable per bond will include the principal amount and accrued but unpaid interest, totaling SEK 11,106.44 per SEK 1,000,000 nominal amount [3] - Following the Ordinary Call and its settlement, there will be no bonds outstanding [3]