04-11-2014
Issue Name
ISIN
Min piece
High Yield Quant Winners
Next call
Coupon if not called
Quant score*
Rating
Price
Strong Buy
Best Buy USD 5% 2018
US086516AM34
2000
8
BB+
102.75 / 103.63
- Quant score of 8 and an attractive yield
- Operationally, the negative trend has reversed. The EBIT margin has improved and the organic revenue growth shows a positive trend
- Strong balance sheet and a positive trend in credit metrics
Frontier USD 8.75% 2022
US35906AAK43
2000
6.6
BB112.25 / 114.25
- Quant score of 6.6 and an attractive yield
- Stable cash flow and high EBITDA margin.
- The management has a declared target of reducing the leverage.
Solvay EUR 5.425% 2049
XS0992293901
100000
12-11-2023
EUSAS+ 3.700%
6.5
BB+
108.63 / 109.13
Solvay EUR 6.375% 2104
XS0254808214
1000
02-06-2016
3M Euribor + 3.350%
6.4
BB+
105.13 / 105.63
- Diversified product portfolio and broad geographical presence.
- Target to increase REBITDA to € 2,3-2,5 bn and a margin of 18 % in 2016
- We expect the company to make use of its liquidity reserve to strenghten the credit profile.
Buy
Azteca USD 7.625 % 2020
XS0972684954
100000
6.7
BB105.88 / 106.75
- Quant score of 6.7 and an attractive yield
- Low leverage and no short-term debt falling due
- Robust FCF profile
General Motors USD 4.875% 2023 US37045VAE02
2000
6.2
BB+
106.5 /
108
- Quant score of 3.2 and an attractive yield
- Very strong cash reserves
- Internationally diversified and strong in the important US and Chinese car markets
- Solid development in important key figures since the reorganisation in 2009
Investment Grade Quant Winners
Price
Issue Name
ISIN
Min Piece
Next call
Coupon if not called
Quant score*
Rating
Strong Buy
Ericsson USD 4.125% 2022
US294829AA48
1000
8.1
BBB+
103.63 / 104.5
- Quant score of 8.1 and an attractive yield.
- Completion of network roll-out and return to 4G capacity expansion with higher margins affect earnings favourably.
- Step-up of US telecoms companies’ investments will get earnings back on the growth track.
Risk
YTW
Spread
3.9
419
Medium
6.3
617
High
4.2
2.7
347
270
Very high
Very high
Quant Winners is a list of corporate bonds
selected on the basis of Jyske Kvant (V).
Jyske Quant (v) is a model that rates
corporate bonds based on a string of
factors. In that way, the model comes up
with a total score that indicates whether
the bond is currently a good investment or
not relative to the market.
Jyske Markets
Vestergade 8 -16
DK - 8600 Silkeborg
Senior Corporate Bond Analyst
Bo Andersen
+45 89 89 76 87
6
608
High
[email protected]
Assisting Analyst
Jakob Ramsgaard
+45 89 89 71 56
3.8
331
YTW
Spread
3.4
296
Low
[email protected]
Risk
Very high
Disclaimer:
Please see the last pages.
Issue Name
ISIN
Min Piece
Investment Grade Quant Winners
Next call
Coupon if not called
Quant score*
Buy
EnBW EUR 7.375% 2072
XS0674277933
1000
02-04-2017
- Quant score of 5.5 and an attractive yield.
- Good business profile with stable earnings from activities subject to regulation.
- Solid liquidity and stable debt.
- Strong management backed by the group of owners.
EUSA5 + 5.401%
5.5
Price
Rating
BBB-
111.5
/ 111.88
YTW
Spread
2.2
223
Risk
Very high
Jyske Bank's corporate bond recommendations - current breakdown
Breakdown of recomendations, corporate bonds (number)