Peugeot pain eclipses French help for car firms
Peugeot’s bonds fell on Wednesday after the French carmaker announced a net loss of €819m in the first half of 2012, as sales in Europe slumped. The results overshadowed a French government initiative, declared on the same day, to encourage ‘clean’ car sales.
Peugeots latest bond issue, the 5.625% 600m July 2017 notes issued in April, fell to 93.00 on Wednesday, reflecting a 7.36% yield, having regained around 4 percentage points since their low of 91.30 last Tuesday, July 17.
The companys bonds, rated Ba2/BB/BB, have been under pressure since it
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