Pareto High Yield Daily-05/26/2026

Research evidence excerpt

Pareto High Yield Daily-05/26/2026

Pareto High Yield Daily

26 MAY 2026

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Sector Credit Research Citira Holding AB – Contemplating a EUR 60m senior secured bond

issuance Key numbers 6 day change Last 1D 1M 6M 12M

• Citira Holding AB is a leading Nordic tire service platform focused on OsloOMXSPIBørs Benchmark 2,043.51,110.0 -0.40.0 %% 2.52.5 %% 28.09.0 %% 16.530.6 %%

commercial vehicle maintenance and retreading services OSX 105.9 -0.5 % 2.5 % 48.8 % 90.8 %

• The Group is contemplating the issuance of a EUR 60m senior secured bond Oil price 98.2 2.1 % -6.8 % 55.5 % 51.6 %

under an unlimited framework, with proceeds intended for future M&A and iTraxx 5Y (generic) 270.5 -1 bps -6 bps 5 bps -14 bps

general corporate purposes. Amounts exceeding the 5.25x incurrence test NIBOR 3m 4.56 0 bps 11 bps 35 bps -8 bps

will be placed in escrow until compliant NIBOR 3Y swap 4.86 -7 bps 9 bps 83 bps 77 bps

• Please note that Pareto Securities acts as Joint Bookrunner in the NIBOR 5Y swap 4.65 -6 bps 4 bps 65 bps 61 bps

contemplated transaction STIBOR 3m 1.98 -3 bps -10 bps 4 bps -34 bps

STIBOR 3Y swap 2.43 -9 bps -13 bps 17 bps 22 bps

STIBOR 5Y swap 2.58 -8 bps -12 bps 12 bps 22 bps

NEO NEXT+ – Contemplating a USD 750m senior unsecured bond

US SOFR 3.51 0 bps -12 bps -42 bps -75 bps

• NEO NEXT+ is the largest oil and gas producer on the UK Continental Shelf, US SOFR 3Y swap 3.92 -5 bps 32 bps 70 bps 26 bps

with ~505 mmboe of 2P reserves and ~250 kbd expected production in 2026 US SOFR 5Y swap 3.94 -4 bps 29 bps 66 bps 25 bps

• The company is owned by TotalEnergies (48%), funds managed by EURIBOREURIBOR 3m3Y swap 2.202.77 -82 bpsbps -24 bpsbps 5416 bpsbps 7416 bpsbps

HitecVision (29%) and Repsol (24%), following the combination of NEO EURIBOR 5Y swap 2.82 -7 bps -3 bps 43 bps 61 bps