Pareto High Yield Daily-06/11/2026

Research evidence excerpt

Pareto High Yield Daily-06/11/2026

Pareto High Yield Daily

11 JUN 2026

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Sector Credit Research Bonava – Issues SEK 1.5bn green bond to refinance debt

Key numbers

• Bonava has successfully issued SEK 1.5bn of new senior secured green notes 6 day change Last 1D 1M 6M 12M

due 2029 OMXSPIOslo Børs Benchmark 11 067,0982,0 -0,1-0,4 %% -1,00,2 %% 20,83,9 %% 23,011,9 %%

• The new notes carry a floating interest rate of 3-month Stibor + 375bps and OSX 101,2 0,5 % -1,3 % 31,0 % 62,2 %

proceeds will be used to refinance existing debt, repay part of the company’s Oil price 93,5 0,5 % -10,2 % 52,6 % 34,1 %

credit facilities, and fund activities under Bonava’s green finance framework iTraxx 5Y (generic) 264,9 0 bps -4 bps 7 bps -7 bps

• Link to press release NIBOR 3m 4,58 -2 bps 5 bps 40 bps -5 bps

NIBOR 3Y swap 4,86 5 bps 2 bps 74 bps 77 bps

Mutares – Signs agreement to sell NEM Energy Group NIBOR 5Y swap 4,65 5 bps 1 bps 55 bps 61 bps

• Mutares has signed an agreement to sell NEM Energy Group to Hyundai STIBORSTIBOR 3Y3m swap 2,602,05 12 bpsbps 56 bpsbps 1816 bpsbps -1946 bpsbps

Heavy Industries Power Systems, a business that was acquired from Siemens STIBOR 5Y swap 2,73 2 bps 6 bps 8 bps 44 bps

Energy in 2022 US SOFR 3,60 -3 bps 0 bps -33 bps -69 bps

• NEM is a global specialist in heat transfer technology, serving power US SOFR 3Y swap 3,98 2 bps 22 bps 61 bps 33 bps US SOFR 5Y swap 3,99 2 bps 19 bps 53 bps 31 bps

generation, oil & gas, industrial, nuclear and energy transition markets

• Closing is expected in Q3 2026, subject to customary approvals EURIBOREURIBOR 3m3Y swap 2,372,88 63 bpsbps 145 bpsbps 2948 bpsbps 4282 bpsbps

• Although no financial details have been disclosed, we conservatively estimate EURIBOR 5Y swap 2,92 3 bps 5 bps 35 bps 69 bps