EU UTILITIES: Week in Review
Jun-06 11:15
- Spreads performed in line at -1.5bp this week. High beta names ALPERI, ERGIM, REDEXS and ORGAU (-6-9bp) outperformed.
- Statnett issued a 12Y just inside our FV.
- FCC Aqualia issued a 7Y 5bp outside our FV. Our credit profile noted an expected improving credit trajectory, although with metrics starting outside S&P thresholds.
UK Power Networks issued a 12Y through London PN, 2bp inside our FV. Our credit profile described the key metrics, with PMICR the only one close to rating sensitivities.
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BTP: Basis trade
May-07 11:07
BTP Basis trade, suggest Cash buyer:
- IKM5 ~2k at 120.13.
DUTCH AUCTION PREVIEW: On offer next week
May-07 11:01
DSTA has announced it will be looking to sell E1.5-2.0bln of the 2.00% Jan-54 DSL (ISIN: NL00150012X2) at its auction next Tuesday, May 13.
MNI: US MBA: MARKET COMPOSITE +11.0% SA THRU MAY 02 WK
May-07 11:00
- MNI: US MBA: MARKET COMPOSITE +11.0% SA THRU MAY 02 WK
