EM LATAM CREDIT: Volcan: New 7-Year Fair Value
Oct-23 14:26
(VOLCAN; B3pos/NR/B-pos) IPT 7Y: Mid-high 8s FV 7Y: 7.75% Area * Peru polymetallic miner Volcan pr...
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Historical bullets
EGB SYNDICATION: New 8-year OT / 3.625% Jun-54 OT tap: Priced
Sep-23 14:12
New 8-year OT
- Reoffer: 99.391 to yield 2.961%
- More to follow
- Spread: MS+37bps (guidance was MS+39bps area)
- Issue size: E3.5bln (a little higher than the E3bln MNI expected)
- Books closed in excess of E46bln (in E1.85bln JLM interest)
- HR 100% vs 2.60% Aug-33 Bund. Ref: 100.10 / +37.6bp
- Maturity: 14 October 2033
- Coupon: 2.875%, Long First
- ISIN: PTOTEQOE0023
- Timing: TOE 14:41BST / 15:41CET. FTT immediately
3.625% Jun-54 OT:
- Reoffer: 92.929 to yield 4.045%
- More to follow
- Issue size: E1.5bln (the middle of the E1-2bln range MNI expected)
- Books closed in excess of E35bln (in E875mln JLM interest)
- HR 97% vs 2.50% Aug-54 Bund. Ref: 84.76 / +71.6bp
- Spread: MS+110bps (guidance was MS+112bps area)
- ISIN: PTOTE3OE0025
- Timing: TOE 14:42BST / 15:42CET. FTT immediately
For both:
- Settlement: 30-September-2025 (T+5)
- Bookrunners: Barclays(B&D/DM)/BNPP/CAIXABI/CITI/CACIB/JPM
From market source / MNI colour
MNI EXCLUSIVE: Riksbank Governor Speaks to MNI
Sep-23 14:09
Riksbank Governor Erik Thedeen talks to MNI about the outlook for the policy rate and the central bank's balance sheet.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
STIR: Fed Pricing Steady After Flash PMIs, Leans Towards 2 Cuts Through Dec
Sep-23 14:03
No tangible reaction in the U.S. front end in the wake of the slightly softer-than-expected flash PMI data, which pointed to a moderate economic expansion in Q3 (see recent bullet for more detail).
- FOMC-dated OIS shows 23.5bp of easing for October and 44bp through year-end.
- SOFR-implied terminal rate pricing sits at 3.02%, consolidating the recent move back above 3.00%.
- Fedspeak from Governor Bowman & Chicago Fed President Goolsbee has generally leaned a little dovish on net (vs. pre-existing views, see recent bullets for greater detail).
