EU CREDIT SUPPLY: SSE: Hybrid Final Terms
Jun-12 12:12
- SSELN; Baa1/BBB+/BBB+.
- Expected ratings: Baa3/BBB-/BBB.
- Final terms: EUR800m PerpNC5.25 4.075%, EUR500m PerpNC8 4.55% (leads).
- Guidance: 4.25%a (+/-12.5), 4.75%a (+/-12.5).
- IPT: 4.75%a, 5.25%a.
- Books above EUR5bn, 3.5bn (5.1bn, EUR3.7bn).
- We had FV at 4.15%, 4.80%.
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EU-BOND SYNDICATION: New 20-year Oct-45 EU-bond: Priced
May-13 12:10
- Reoffer: 99.190 to yield 3.809%
- Size: E7bln (upsized from E6bln guidance; MNI had expected E5-9bln)
- Final books in excess of E60bln (inc E4bln JLM interest)
- Spread set at MS+110bp (guidance was MS + 112bps area)
- HR 102% vs 2.50% Jul-44 Bund +76.1bp (spot ref 92.14)
- Size: E6bln (MNI expected E5-9bln)
- Coupon: 3.75%. 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: TOE 12:59BST / 13:59CET. FTT immediately
From market source
STIR: Repo Reference Rates
May-13 12:05
- Secured Overnight Financing Rate (SOFR): 4.28% (+0.00), volume: $2.535T
- Broad General Collateral Rate (BGCR): 4.27% (+0.00), volume: $1.077T
- Tri-Party General Collateral Rate (TCR): 4.27% (+0.00), volume: $1.037T
- (rate, volume levels reflect prior session)
MNI EXCLUSIVE: MNI speaks to policy advisors in Beijing on US-China trade deal
May-13 12:02
MNI speaks to policy advisors in Beijing about the likely scope of a U.S-China trade deal --- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
