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INEOS’ bonds rallied after the European Commission (EC) ruled that producers in China, Saudi Arabia and the US breached EU anti-dumping rules, boosting sentiment toward European chemicals makers. The EC announced provisional anti-dumping duties after finding that cheap imports were undercutting European producers and eroding profitability. The report said that dumped imports forced EU companies to price below production costs, rendering them uncompetitive. Ineos founder Jim Ratcliffe has repeatedly called on EU policymakers to act as the sector faces high competition from China alongside higher energy and production costs. The investigation included site visits and data requests involving producers such as BASF SE and LyondellBasell Industries NV. While headquartered in the UK, Ineos has significant EU operations and stands to benefit from the ruling.
Its 6.75% 2028s were up by 1.6 points to 90.6 cents on the dollar , yielding 11.58%
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