MD, Leaf & Ledger Limited

Yinson (7293) SLB, A Documented Pricing-Lag Arbitrage in 2025

Accor Hotels - ESG Report - Lucror Analytics

SLBs in 2025: Where Step-Ups Create Event-Driven Alpha

Smartkarma Webinar | Promoting Sustainability in ASEAN: Rise of the Green Economy

Leaf & Ledger Limited

Formed in 2024, Leaf & Ledger is a European advisory and research firm serving institutional investors and managers. We focus on real assets and private markets, with public-market read-throughs where material. Our work emphasises valuation signals, market structure, and execution topics that translate technical assessment into underwriting and strategy.

Insight That Moves Capital

Event-Driven

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 Trade the 2028 SLB. Long value in Accor’s €700MM 2.375% SLB due in 2028. Monetise price moves around verification and vendor updates.</li>
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 High 2025 miss risk. 2024 levels imply steep absolute cuts required in one year. Intensity improved, absolutes did not. Scope 3 looks hardest to meet.</li>
<li>
 Know the catalyst path. Observation occurs at YE 2025, with reporting and assurance arriving in 1Q 2026. Markets usually react when verification and data vendor fields update.</li>
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 Trade the 2028 SLB. Long value in Accor’s €700MM 2.375% SLB due in 2028. Monetise price moves around verification and vendor updates.

 High 2025 miss risk. 2024 levels imply steep absolute cuts required in one year. Intensity improved, absolutes did not. Scope 3 looks hardest to meet.

 Know the catalyst path. Observation occurs at YE 2025, with reporting and assurance arriving in 1Q 2026. Markets usually react when verification and data vendor fields update.


Accor (AC FP) SLB: Trade the Verification Window

Accor SA

Accor (AC FP) SLB: Trade the Verification Window