LONDON, Mar 23 (IFR) - Here are details on syndicated bond issues in the European market on Wednesday:
UPDATE: UK Planning Up To Eight Syndications This Year
LONDON, Mar 23 (IFR) - The UK DMO has announced plans for up to eight syndications in 2011/2012, which it intends to implement 'more evenly across the year than in 2010/2011. The planning assumption...implies a frequency of two such operations per quarter.'
Total gilt sales will be GBP169bn, with the syndicated share of that to be GBP31.6bn.
MANDATE: Nordex Planning Investor Meetings
LONDON, Mar 23 (IFR) - Nordex SE, unrated, has mandated Commerzbank and Unicredit to arrange a series of fixed-income investor meetings in Europe commencing on March 28, with the aim of exploring possible debt capital market opportunities. Nordex is a German wind turbine maker.
UPDATE: CADES Books USD2bn+; Talk Unchanged
LONDON, Mar 23 (IFR) - Orders for the CADES 5yr inaugural RegS/144a stand at USD2bn with talk unchanged from first thing at mid-swaps +22 area. Pricing is expected NY morning today via leads BoAML, Credit Suisse, Goldman and HSBC.
UPDATE: OP Mortgage To Be EUR1bn at MS+35
LONDON, 23 Mar (IFR) - OP Mortgage Bank has now sized its 5yr Finnish covered bond at EUR1bn, and will price later this afternoon as already fixed at mid-swaps +35, in line with +35 area guidance. Books are now closed.
PRICE TALK: eAccess USD400m 8.25% Area, EUR200m +12.5bp
NEW YORK, March 23 (IFR) - Price talk is of 8.25% area on the USD400m tranche and 12.5bp behind on the EUR200m tranche is out on eAccess Ltd USD/EUR 144A/Reg S sr notes due 2018 (7y). NC4. Ba3/BB (stable/stable). Guarantor EMOBILE Ltd. Via UBS/ING/CA joint books. No reg rights. USD books close at 4pm NY time today; EUR books close tomorrow at noon UK time; Asia books close Thurs close of business.
LONDON, Mar 23 (IFR) - The books on Caja Madrid's imminent EUR750m March 2014 Cedulas Hipotecarias have closed at EUR1.1bn and the reoffer spread has been fixed in line with guidance at mid-swaqps plus 240bp. Pricing this afternoon via Caja Madrid, Credit Suisse, HSBC, Natixis and UniCredit. Rated Aaa/AAA.
UPDATE: Santander Books EUR1.5bn+; TBP MS+175
LONDON, Mar 23 (IFR) - The final spread for the upcoming Santander 3yr senior deal has now been fixed at mid-swaps +175, from guidance of +175/+180 and an initial +180 area. Books have closed at over EUR1.5bn from 213 accounts. Pricing this afternoon via DZ, LBBW, Santander and Unicredit.
UPDATE: Kabel BW Tranche Sizes, Pricing Fixed
LONDON, March 23 (IFR) - Kabel BW has set the final sizes of its four-part bond backing the acquisition of the company by Liberty Global from EQT and has tightened guidance on three of the tranches.
Books are due to close at 1600 GMT (noon NY time), with pricing expected thereafter with the size of the overall deal increased by EUR20m to EUR2.45bn.
The size of the euro-denominated sr sec 8NC4 note has been reduced by EUR50m to EUR800m and guidance tightened to 7.5% from 7.75%, while the size of the 7NC1 sr sec FRN has been increased by EUR70m to EUR420m with final guidance coming in at E+425bp, the tight end of an initial E+425-450bp range.
Final guidance on the unchanged USD500m sr sec 8NC4 portion was also tightened to 7.5% from 7.75%, while guidance on the unchanged EUR680m sr unsec note was tightened to 9.50% from 9.75% area. CS/DB/JPM are joint books on the deal.
UPDATE: Barclays Sub Guidance MS+315 Area
LONDON, Mar 23 (IFR) - Official guidance for the self-led Barclays 11yr LT2 bullet is mid-swaps +315 area. Pricing is expected later today. Baa1/A/A-.
PRICE TALK: Phones 4U GBP430m Snr Sec 9.5%a
LONDON, March 23 (IFR) - Phones 4u Finance has set price talk on its planned GBP430m senior secured bond at 9.5% area and is due to close books at 1700 GMT today.
The 7NC3 bond, backing the buyout of the business by BC Partners from private equity firm Providence Equity Partners, is expected to price on Thursday via Goldman Sachs, left lead and physical bookrunner. Deutsche Bank, ING and Lloyds are joint bookrunners and Commerzbank is co-manager.
UPDATE: OP Mortgage Pricing At MS+35
LONDON, Mar 23 (IFR) - Books for the OP Mortgage Bank 5yr Finnish covered bond are 'still building well' and will close at 12:30 GMT. Reoffer has been fixed at mid-swaps +35, in line with +35 area guidance. Deutsche, DZ, Pohjola and UBS are leads.
UPDATE: Caja Madrid Books EUR1bn; TBP MS+240
LONDON, Mar 23 (IFR) - Books for the Caja Madrid 3yr CH are at EUR1bn and will close at noon London time. Reoffer is now set at mid-swaps +240, in line with +240 area guidance. Pricing this PM.
IFR London: +44 207 542 8389
Keywords: BOND ISSUES/
COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
UPDATE: UK Planning Up To Eight Syndications This Year
LONDON, Mar 23 (IFR) - The UK DMO has announced plans for up to eight syndications in 2011/2012, which it intends to implement 'more evenly across the year than in 2010/2011. The planning assumption...implies a frequency of two such operations per quarter.'
Total gilt sales will be GBP169bn, with the syndicated share of that to be GBP31.6bn.
MANDATE: Nordex Planning Investor Meetings
LONDON, Mar 23 (IFR) - Nordex SE, unrated, has mandated Commerzbank and Unicredit to arrange a series of fixed-income investor meetings in Europe commencing on March 28, with the aim of exploring possible debt capital market opportunities. Nordex is a German wind turbine maker.
UPDATE: CADES Books USD2bn+; Talk Unchanged
LONDON, Mar 23 (IFR) - Orders for the CADES 5yr inaugural RegS/144a stand at USD2bn with talk unchanged from first thing at mid-swaps +22 area. Pricing is expected NY morning today via leads BoAML, Credit Suisse, Goldman and HSBC.
UPDATE: OP Mortgage To Be EUR1bn at MS+35
LONDON, 23 Mar (IFR) - OP Mortgage Bank has now sized its 5yr Finnish covered bond at EUR1bn, and will price later this afternoon as already fixed at mid-swaps +35, in line with +35 area guidance. Books are now closed.
PRICE TALK: eAccess USD400m 8.25% Area, EUR200m +12.5bp
NEW YORK, March 23 (IFR) - Price talk is of 8.25% area on the USD400m tranche and 12.5bp behind on the EUR200m tranche is out on eAccess Ltd USD/EUR 144A/Reg S sr notes due 2018 (7y). NC4. Ba3/BB (stable/stable). Guarantor EMOBILE Ltd. Via UBS/ING/CA joint books. No reg rights. USD books close at 4pm NY time today; EUR books close tomorrow at noon UK time; Asia books close Thurs close of business.
LONDON, Mar 23 (IFR) - The books on Caja Madrid's imminent EUR750m March 2014 Cedulas Hipotecarias have closed at EUR1.1bn and the reoffer spread has been fixed in line with guidance at mid-swaqps plus 240bp. Pricing this afternoon via Caja Madrid, Credit Suisse, HSBC, Natixis and UniCredit. Rated Aaa/AAA.
UPDATE: Santander Books EUR1.5bn+; TBP MS+175
LONDON, Mar 23 (IFR) - The final spread for the upcoming Santander 3yr senior deal has now been fixed at mid-swaps +175, from guidance of +175/+180 and an initial +180 area. Books have closed at over EUR1.5bn from 213 accounts. Pricing this afternoon via DZ, LBBW, Santander and Unicredit.
UPDATE: Kabel BW Tranche Sizes, Pricing Fixed
LONDON, March 23 (IFR) - Kabel BW has set the final sizes of its four-part bond backing the acquisition of the company by Liberty Global from EQT and has tightened guidance on three of the tranches.
Books are due to close at 1600 GMT (noon NY time), with pricing expected thereafter with the size of the overall deal increased by EUR20m to EUR2.45bn.
The size of the euro-denominated sr sec 8NC4 note has been reduced by EUR50m to EUR800m and guidance tightened to 7.5% from 7.75%, while the size of the 7NC1 sr sec FRN has been increased by EUR70m to EUR420m with final guidance coming in at E+425bp, the tight end of an initial E+425-450bp range.
Final guidance on the unchanged USD500m sr sec 8NC4 portion was also tightened to 7.5% from 7.75%, while guidance on the unchanged EUR680m sr unsec note was tightened to 9.50% from 9.75% area. CS/DB/JPM are joint books on the deal.
UPDATE: Barclays Sub Guidance MS+315 Area
LONDON, Mar 23 (IFR) - Official guidance for the self-led Barclays 11yr LT2 bullet is mid-swaps +315 area. Pricing is expected later today. Baa1/A/A-.
PRICE TALK: Phones 4U GBP430m Snr Sec 9.5%a
LONDON, March 23 (IFR) - Phones 4u Finance has set price talk on its planned GBP430m senior secured bond at 9.5% area and is due to close books at 1700 GMT today.
The 7NC3 bond, backing the buyout of the business by BC Partners from private equity firm Providence Equity Partners, is expected to price on Thursday via Goldman Sachs, left lead and physical bookrunner. Deutsche Bank, ING and Lloyds are joint bookrunners and Commerzbank is co-manager.
UPDATE: OP Mortgage Pricing At MS+35
LONDON, Mar 23 (IFR) - Books for the OP Mortgage Bank 5yr Finnish covered bond are 'still building well' and will close at 12:30 GMT. Reoffer has been fixed at mid-swaps +35, in line with +35 area guidance. Deutsche, DZ, Pohjola and UBS are leads.
UPDATE: Caja Madrid Books EUR1bn; TBP MS+240
LONDON, Mar 23 (IFR) - Books for the Caja Madrid 3yr CH are at EUR1bn and will close at noon London time. Reoffer is now set at mid-swaps +240, in line with +240 area guidance. Pricing this PM.
IFR London: +44 207 542 8389
Keywords: BOND ISSUES/
COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2011 AFX News
