Pareto High Yield Daily-07/15/2026

研报英文原文证据摘录

Pareto High Yield Daily-07/15/2026

SEK/NOK 1.01 0.0 % 0.0 % -0.1 % 0.0 % Oil price, Brent

• The acquisition marks First Camp's first location on the German North Sea

USD/bbl

coast, strengthening its presence in northern Germany. Borkum is the largest

of the East Frisian Islands and lies within the UNESCO World Natural Heritage 140

Site of the Wadden Sea. 120

• The seasonally open campsite is located close to both the town centre and 100

the beach. It comprises ~118 touring pitches, 71 rental caravans, 195 long- 80

stay and seasonal pitches and 21 tent pitches, complemented by a restaurant 60

and an island market run by long-standing partners.

• Link to press release 40

Fortaco – Sale of steel fabrication business -

Jan-21 Sep-21 May-22 Jan-23 Sep-23 May-24 Jan-25 Sep-25 May-26

• Fortaco announced today that it is selling its steel fabrication business to iTraxx crossover

HANZA, which comprises 45% of Sales and most of EBITDA.

• Initial cash payment includes EUR 144m with an earn out component, bps

increasing total consideration to up to EUR 200m. 750

• Debt amounts to EUR ~140m, which means that the EUR 144m proceeds as 650

well as EUR 35m in cash (as of Q1’26) covers the debt in full. 550

• The transaction is expected to close by the end Q4’26 subject to final

approvals. 450

• The company has at this stage not communicated the plans with regards to 350

its outstanding bonds, however, we see this transaction as significant de- 250

risking in the case. The bonds have been indicated at high 80s/low 90s before

this announcement. 150

• The company will provide continuous updates on the development and will Analysts:

report Q2’26 on Aug 28, 2026.

• Link to press release, link to credit newsflash Daniel Rosén

+46 70 935 07 69, daniel.duerosen@paretosec.com

Adam André