HEALTHCARE: Viatris (VTRS: Baa3/BB+/BBB) Q1 25
May-08 11:11
Prioritising returns to shareholders. Not a surprise given the problems in Indore following FDA warn...
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EU-BOND SYNDICATION: Dual-tranche: 2.625% Jul-28 / 2.50% Oct-52: Allocations
Apr-08 11:10
2.625% Jul-28 EU-bond (EU000A4D5QM6)
- Spread earlier set at MS+14bps (Guidance was MS+15 bps area)
- Size confirmed at E5bln (MNI had expected E4-6bln)
- Books closed in excess of E41bln (in E5.5bln JLM interest)
- HR 106% vs 2.40% Apr-28 Bobl
2.50% Oct-52 EU-bond (EU000A3K4DT4)
- Spread set at MS+126bps (Guidance was MS+128 bps area
- Size: E3bln versus guidance of E2bln (MNI had expected E4-6bln)
- Books closed in excess of E45bln (in E5bln JLM interest)
- HR 119% vs 0% Aug-52 Bund
For both:
- Settlement: 15 April 2025 (T+5)
- Bookrunners: BNP Paribas, Deutsche Bank, J.P. Morgan, Natixis and Nomura
- Timing: Hedge deadline 12:25BST / 13:25CET. Pricing to follow
From market source
EQUITIES: EU Bank put spread vs call
Apr-08 11:09
SX7E (17th Apr) 155/150ps vs 171c, bought the ps for 0.25 in ~7.2k.
SONIA: SONIA FIX - 08/0425
Apr-08 11:05
SONIA FIX - Source: BBG/ICE
- 1M 4.45090 -0.001
- 3M 4.26480 -0.0089
- 6M 4.13250 0.0052
- 12M 3.96190 0.034
