June 10 (Reuters) – News, details on corporate bond issues in the European markets on Thursday:
Stocks | Currencies | Bonds | Global Markets
Issue: The U.S. construction company plans a 3-year 300 million euro ($361.1 million) bond, an official with one of the banks managing the sale said.
Guidance: Mid-swaps plus 85 basis points versus earlier guidance of mid-swaps plus 85-90 bps, as reported by IFR Markets, a Thomson Reuters online news and market analysis service.
Managing banks: Royal Bank of Scotland, Societe Generale.
Ratings: Moody’s A2, S&P A, Fitch A.
NATIONAL EXPRESS (NEX.L)
Issue: The UK transport group has opened books on a 10-year benchmark sterling bond, an official at one of the banks managing the sale said. The company had delayed a debut euro bond on April 28, citing market volatility.
Guidance: Gilts plus 300 to 310 basis points.
Managing banks: BayernLB, BBVA, BNP Paribas, HSBC.
Mandate: The Swedish bank plans a 5-year benchmark euro covered bond, as reported by IFR Markets, a Thomson Reuters online news and market analysis service.
Managing banks: BayernLB, Commerzbank, Credit Suisse, Royal Bank of Scotland and SEB.
KA FINANZ [KKAT.UL]
Mandate: Renamed Kommunalkredit Austria opens books on a three-year benchmark euro government-guaranteed bond, IFR reports.
Guidance: Mid-swaps plus 25 bps area.
Managing banks: Barclays, Bank of America Merrill Lynch, Erste and Goldman Sachs.
Issue: The German real estate bank plans a 500 million euro 2-year covered bond, IFR reported.
Guidance: Mid-swaps plus 15-20 basis points.
Managing banks: BayernLB, Citi, Commerzbank, Unicredit and WestLB.
(London Corporate Finance: +44 207 542 8389) ($1=.8307 Euro)