Commodities

French sugar group Tereos bond yield surges to all-time high

Credit: REUTERS/BENOIT TESSIER

The yield on the June 2023 bond of French sugar group Tereos surged to an all-time high of 17.387% on Wednesday, Refinitiv data showed.

PARIS, Oct 23 (Reuters) - The yield on the June 2023 bond of French sugar group Tereos FR0013183571= surged to an all-time high of 17.387% on Wednesday, Refinitiv data showed.

The yield on a separate March 2020 bond FR0011439900, was trading at 10.529%, well below a high of 18.2% hit in June this year.

Tereos, one of the world's largest sugar makers, has been hit by a slump in sugar prices to historic lows after a supply surge, partly driven by the scrapping of European Union output quotas in 2017.

(Reporting by Sybille de La Hamaide, editing by Gus Trompiz)

((Sybille.deLaHamaide@thomsonreuters.com; +331 4949 5145;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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