Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

Medco Energi is conducting a roadshow for a proposed USD 500 mn 7NC3 Notes issuance. The company will initially deposit the proceeds into an escrow account, with the funds to be used ultimately for refinancing or to finance an acquisition. We view negatively the uncertainty regarding Medco’s use of proceeds. We believe any potential debt-funded acquisition could strain the already weak financial metrics, particularly as any such transaction would likely come amid an elevated oil price environment. Nevertheless, we view favourably the company’s proactive financial management, as the issuance of long-term bonds will bolster its cash buffer for acquisitions or extend its debt maturity profile (should the proceeds be used to redeem the existing ‘25s). We do not recommend investors participate at yields below 7%, given the significant event risks.

  Medco Energi is conducting a roadshow for a proposed USD 500 mn 7NC3 Notes issuance. The company will initially deposit the proceeds into an escrow account, with the funds to be used ultimately for refinancing or to finance an acquisition.   We view negatively the uncertainty regarding Medco’s use of proceeds. We believe any potential debt-funded acquisition could strain the already weak financial metrics, particularly as any such transaction would likely come amid an elevated oil price environment. Nevertheless, we view favourably the company’s proactive financial management, as the issuance of long-term bonds will bolster its cash buffer for acquisitions or extend its debt maturity profile (should the proceeds be used to redeem the existing ‘25s).   We do not recommend investors participate at yields below 7%, given the significant event risks. 

Medco Energi - Event Flash - Proposing To Issue 7NC3 Notes - Lucror Analytics