EU TECHNOLOGY: Prosus: Trading Update
Jun-12 08:38
(PRXNA ; Baa2/BBB)
- Prosus has released a trading update ahead of FY results on 23 June.
- Continuing core headline EPS will be +54-63% YoY from $1.93 to $2.97-3.15.
- This is broadly in line with BBG consensus of $3.03.
- Nothing given on credit metrics or the M&A or payouts outlook.
- Prosus will host a CMD on 25 June where additional colour will likely be given.
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BUNDS: German 2s/10s Steepener trades on Block
May-13 08:33
- RXM5 ~2.8k sold at 129.47.
- DUM5 ~15.9k bought for 107.11.
US TSY OPTIONS: FVN5 107.00/106.25 Put Spread Blocked Again
May-13 08:31
Block trades lodged at 08:49:53 London/03:49:53 NY:
- FVN5 107.00/106.25 put spread 11K lots blocked at 0-11+, looks like a buyer.
- Follows on from a 10K block buyer at 0-12+ in the Asia-London handover.
EU-BOND SYNDICATION: New 20-year Oct-45 EU-bond: Final terms
May-13 08:16
- Size: E7bln (upsized from E6bln guidance; MNI had expected E5-9bln)
- Books in excess of E64bln
- Spread set at MS+110bp (guidance was MS + 112bps area)
- Size: E6bln (MNI expected E5-9bln).
- Coupon: Short first coupon
- Maturity: 12 October 2045
- Settlement: 20 May 2025 (T+5)
- ISIN: EU000A4EA8Y7
- JLMs: Barclays, Credit Agricole CIB (DM/B&D), LBBW, Morgan Stanley, Nordea
- Timing: Books to close at 9:45BST / 10:45CET. Allocations and pricing later today
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