EM ASIA CREDIT: SK Hynix: USD BM 3Y and 5Y - FV
Sep-04 07:01
IPT: 3Y T+115A
IPT: 5Y T+120A
FV: 3Y T+85bp or z+111bp
FV: 5Y T+90bp or z+128bp
- SK Hynix coming to the market with a 3Y and 5Y senior unsecured bonds. We use the company’s secondary bonds for pricing. We see the 6.375% Jan28 bonds at around T+83bp or z+103bp, the 5.5% Jan29 bonds at around T+85bp or z+120bp, the 2.375% Jan31 green bond around z+123bp or T+92bp and the 6.5% Jan33 bond at around T+109bp and z+150bp vs the Aug32. We see FV on the 3Y at T+85bp (or z+111bp) and for the 5Y T+90bp (or z+128bp).
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Gilt Calls, 92.64/92.69.
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