Pareto High Yield Daily-07/06/2026

Research evidence excerpt

Pareto High Yield Daily-07/06/2026

Pareto High Yield Daily

6 JUL 2026

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Sector Credit ResearchNES Fircroft – Contemplates USD 650m senior secured bond issue

Key numbers

• NES Fircroft is contemplating the issuance of a USD 650m senior secured 6 day change Last 1D 1M 6M 12M

bond, with proceeds intended to refinance the existing USD 350m bonds and OsloOMXSPIBørs Benchmark 1,947.31,121.8 -0.10.2 %% -2.83.4 %% 14.77.2 %% 19.316.3 %%

fund a USD 350m shareholder distribution. OSX 87.5 0.6 % -11.6 % 9.8 % 43.6 %

• NES Fircroft is a global specialty recruitment and workforce solutions Oil price 71.6 -0.7 % -23.1 % 18.0 % 4.8 %

provider, that focuses on engineering recruitment, deploying over 24,000 iTraxx 5Y (generic) 240.1 0 bps -9 bps -1 bps -15 bps

contractors globally to ~1,400 blue-chip clients across oil & gas, life sciences, NIBOR 3m 4.60 3 bps -1 bps 50 bps 28 bps

renewables and other high-growth technical end-markets. NIBOR 3Y swap 4.76 -1 bps -9 bps 65 bps 97 bps

• Please note that Pareto Securities is acting as Sole Global Coordinator and NIBOR 5Y swap 4.55 -1 bps -9 bps 45 bps 79 bps

Joint Bookrunner in the contemplated bond issue. STIBOR 3m 2.02 4 bps 0 bps 6 bps -9 bps

STIBOR 3Y swap 2.37 1 bps -25 bps 0 bps 32 bps

STIBOR 5Y swap 2.53 1 bps -21 bps -9 bps 30 bps

Kosmos Energy – Strong asset performance and debt reduction on

track USUS SOFRSOFR 3Y swap 3.663.93 -34 bpsbps -81 bpsbps -2160 bpsbps -7839 bpsbps

• Kosmos provided an operational update this morning, confirming strong US SOFR 5Y swap 3.91 -3 bps -10 bps 46 bps 34 bps

production at Jubilee, continued performance at GTA, and good progress on EURIBOR 3m 2.32 1 bps 2 bps 29 bps 38 bps EURIBOR 3Y swap 2.72 1 bps -17 bps 37 bps 65 bps

deleveraging through H1. EURIBOR 5Y swap 2.77 1 bps -16 bps 23 bps 52 bps