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Investment evaluation

The images below show the real trades of some of our clients or the balances of the property accounts of some of our clients, while IMPERIUM FINANCE s.r.o. does not guarantee that the same or higher appreciation will result from the trading of every investor. Investing is always associated with risks, which the investor should first familiarize himself with, e.g. through the document "Investment services, investment instruments and risks related to them", which is available  here . Please also note that the evaluations below are based on gross performance. In order to obtain a net return, it is necessary to take into account the influence of all costs associated with investing, see, for example, a sample calculation of business costs, which is available here . The net investment return may also be affected by the tax regime, which depends on the individual circumstances of each investor and may change in the future. If the investment instrument listed below is denominated in a foreign currency, the valuation presented also refers to this currency and the return on the investment in the investor's currency may be affected by exchange rate fluctuations.


Purchase date

Status as of today


Purchase price

Actual price

Profit/Loss in % 

Currency Profit/Loss 

Current investment volume





Macy's is an American retail chain. 

As with Casino Guichard Perrachon, Mr. Daniel Křetínský and Patrik Tkáč are significant shareholders. For us, this is a confirming signal that the company is a long way from bankruptcy, and bonds are therefore an attractive opportunity.

Complete information

Macy's Retail Holdings, Inc.
The name of the issue
 Macy's Retail Holdings, 7% 15Feb2028
US dollar $
Emission volume
300,000,000 USD

The face value of the bond

1000 USD

Indicative market price

960 USD


40 USD
Coupon from face value
7% p.a
Coupon payout frequency

Due date

Semi-annual pay

 100% liquidity

Minimum volume

Yield to Maturity 

8.60% pa - before taking into account all costs

Preferred scenario

26.70% pa - before taking into account all costs
Hierarchy of debt
Senior uninsured
You can find the prospectus for the bonds here:
7% Senior Debentures Due 2028 - Prospectus

Assets vs. liabilities

The company has a total of USD 21.172 billion in assets , of which USD 9.3 billion is the value of real estate and land (already after amortization).


Celkové závazky činí  14,795 mld. USD z toho 9,045 mld. USD jsou long-term liabilities (debt, deferred tax liability).


Bond summary

The bond was trading at $1030 (103% of par) before Covid-19. A drop in bonds and stocks caused the lock-down, but with the advent of vaccines, the crisis ends. The company generated over USD 1 billion in profit and free-cashflow before Covid-19, we expect the values to return to half as early as 2021. At that time, the bonds will return to USD 1000.

Another in a series of bonds where the return does not match the risk (in a positive sense). The trade is very similar to the Casino Guichard Perrachon bond trade.

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