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Estée Lauder’s bond at its lowest since the beginning of 2023

Estée Lauder’s bond at its lowest since the beginning of 2023

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The bond of the American cosmetics group Estée Lauder has reached its lowest level since the beginning of 2023 in recent days, at 86% of par. This is a much lower price than the one reached at the beginning of February, i.e. almost 90%. Explanations.


Estée Lauder is in trouble since the pandemic and 2023 is not getting any better. Indeed, the cosmetics group’s bond, which has a remaining maturity of six years, is trading at around 86% of par on the secondary market. The annual yield of the bond, which indicates how much it pays, is thus 4.91%.


Not to be confused with a stock, a bond is a debt security with a promise to pay interest. Here, the one in question is the Estée Lauder 2.375%-2029 $2,000 bond, meaning that the $2,000 bond will expire in 2029.


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The coupon rate, on the other hand, is the interest rate applied to the price of the bond to calculate the amount of the coupons, i.e. 86%, while the secondary market represents the market where previously issued bonds are “traded” (bought and resold).



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Featured photo : © Estée Lauder

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