The document provides a trade idea for buying Axa Sa bonds, highlighting the issuer's strong fundamentals, positive S&P rating outlook, and debt-friendly behavior. It recommends the bond due to its attractive 4.9% yield and potential for outperforming during market recovery. The bond is USD denominated, Tier 1, with a perpetual maturity and a call in 2018.
documents/EFTA01378326.pdf
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