Banks Active in European Credit Market Space

By Serena Ruffoni

A few bond deals, mainly banks, priced Wednesday. CDS indexes are stable

CDS:

iTraxx Europe index: flat at 98 BPs

iTraxx Crossover index: 1 BP tighter at 387 BPs

NEW ISSUES

 
Daimler two-tranche 
Amount:           EUR500 million, EUR750 million 
Maturity:         Oct. 7, 2016, April 7, 2020 
Coupon:           30 BPs over three-month Euribor, 2% 
Issue Price:      100, 99.212 
Payment Date:     Oct. 7, 2013 
Spread:           30 BPs over three-month Euribor, 55 BPs over midswaps 
Debt Ratings:     A3  (Moody's) 
                  A-  (Standard & Poor's) 
                  A-  (Fitch) 
Denominations:    EUR1,000 
Listing:          Luxembourg 
 

Veneto Banca priced a EUR300 million 4.25% senior unsecured bond, maturing Jan 2016, at 99.752, Swaps + 3.75

Bank of Ireland priced a EUR500 million 3.625% seven-year covered bond, at 99.97, Swaps +1.95

COMING UP:

Raiffeisen Bank International AG has mandated banks to arrange a series of fixed-income investor meetings in Europe from Sept. 30. A euro-denominated debt offering may follow, subject to market conditions.

Write to Serena Ruffoni at [e-mail]