2020-04-04 IFR Magazine

International Financing Review April 4 2020 55

BONDS SUMMARY DETAILS

MS+25 area - >US$7bn Aaa/AAA/AAA GS/MS/RBC -

MS+45 area, MS+42

area

• 
  

  
  

  US$2.9bn Aa1/AA+ BMO/DB/JPM/TD EMEA 51%, Amers 36%, Asia 13%. CB/OI
  62%, AM 18%, Bks 18%, Other 2%.
  MS+25 area, MS+22
  area

  
  

  
  


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  US$4.8bn Aaa/AAA/- Barc/BofA/Citi/TD -

  
  

  
  

MS+35 area, MS+30

(#)

• 
  

  
  

  US$4.1m Aaa/AAA/- Barc/BMO/JPM/RBC -

  
  

  
  


• 
  
  
  
  • 
    
    
    
    • Aa2/-/AA CA-CIB -
    
    
    
    
  
  
  
  

MS+50 (+/-2) 20 >€1.7bn Aaa/AAA/AAA Barc/BofA/Citi/JPM/HSBC -

MS+22 area 12 €2.3bn, >70acs -/-/AAA CMZ/DZ/JPM/NatWest/NordLB Ger 49%, Benelux 18%, Fr 7%, Aus/

Switz 6%, Nordics 6%, UK/Ire 5%, Other

9%. Bks 53%, CB/OI 31%, AM 10%, Ins/

PF 6%.

MS+9 area, MS+7

area

4 >€3.2bn Aaa/AAA BNPP/Danske/JPM/HSBC Benelux 19%, Nordics 12%, Fr 6%, UK

4%, RoEur 32%, Asia 21%, RoW 6%.

CB/OI 58%, Bks 24%, FM 12%, Ins/PF/

Corp 6%.

• 
  
  
  
  • 
    
    
    
    • -/-/NR Deka -
      MS+21 (the #) - - Aaa/AAA/NR/
      Scope AAA
    
    
    
    
  
  
  
  

NordLB -

MS+23 area - >€2.5bn, >80acs -/-/AAA CMZ/Deka/DZ/LBBW/NordLB/Uni Ger 75%, Benelux 17%, Nordics 6%,

Other 2%. Bks 49%, CB/OI 33%, AM

13%, Ins/PF 5%.

MS+21 (the #) - - Aaa/AAA/NR/

Scope AAA

NordLB -

MS+15 area, MS+13

area

8 €55bn, 320acs Aa3/AA/AA- Barc/BNPPFortis/CA-CIB/HSBC/MS UK 24%, Fr 13%, Neth 9%, Scandi 8%,

RoEur 24%, Asia 9%, USA 9%, RoW 4%.

FM 35%, Tsy 23%, CB/OI 17%, HF 9%, PF

6%, Ins 5%, Bks 5%.

MS+23 area - €2.5bn, 80acs -/-/AAA CMZ/Deka/DZ/LBBW/NordLB/Uni Ger 75%, Benelux 17%, Nordics 6%,

Other 2%. Bks 49%, CB/OI 33%, AM

13%, Ins/PF 5%.

MS+15 area, MS+13

area

• €3.6bn Aa1/AA+ BofA/DB/Erste/JPM -

MS+45 area 24 €1.95bn, 80acs Aa2/AA-/AA- BNPP/DB/HSBC/JPM/NatWest Fr 28%, Ger/Aus 21%, Benelux 12%,

Switz 8%, Nordics 8%, UK/Ire 7%, RoEur

2%, Asia 6%, RoW 8%. Bks 57%, FM

21%, CB/OI 15%, Ins/PF 7%.

MS+13 area - >€2.8bn Aaa/AAA/- Barc/CA-CIB/Deka/DZ/LBBW/Uni Ger 51.4%, Fr 15.7%, Benelux 11.5%,

Nordics 7.5%, Aus/Switz 5.2%, RoEur

6.9%, Other 1.8%. Bks 85%, FM 10%,

CB 5%.

MS+6 area 2 >€15bn, 170acs Aaa/AAA/-/Scope

AAA

Citi/HSBC/NatWest/Uni Ger 17%, UK/Ire 13%, Asia 5%, Fr 12%,

CEE 14%, Benelux 9%, Scandi 9%, RoW

21%. CB/OI 43%, Bks 33%, AM 16%,

Other 8%.

MS+58 17 >€1.4bn Aa3/A+/AA- Barc/BNPP/HSBC/RBC/TD -

MS+90 area, MS+88

area

10 €30bn, 382acs Baa3/BBB/BBB/

BBB(high)

Barc/BBVA/CaixaBI/CA-CIB/JPM/MS UK 29.1%, Fr/It/Sp 28.8%, Port 11.4%,

Ger/Aus/Switz 9.2%, Nordics 8.5%,

RoEur 4.9%, N.Amer 3.4%, Asia 2.2%,

Other 2.5%. FM 1.2%, Bks/PB 28.6%,

Ins/PF 8.5%, HF 6.8%, CB/OI 6%, Other

1%.

0 - - Aaa/AAA/AAA SG -

0 - - -/-/AAA Uni -

OLOs+45 area - >€575m A2 Belfius

/DB/HSBC/ING/Natx

OLOs+high 40s - >€225m A2 Belfius

/DB/HSBC/ING/Natx

MS+15 area, MS+12

(+/-1)

10 >€4.5bn, >60acs Aa1/AAA/AA+ CA-CIB/Citi/DZ/HSBC Fr 24%, Asia 16%, UK 14%, Benelux 11%,

Ger/Aus/Switz 11%, Nordics 9%, N.Amer

7%, Other 8%. Bks/Tsy 39%, AM 31%,

CB/OI/SSA 24%, Ins/PF 6%.

MS+10 area, MS+8

area

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  €7.3bn Aaa/AAA/AAA BNPP/BofA/DZ/JPM Fr 27%, Ger/Aus/Switz 15%, Benelux
  15%, RoEur 15%, U.K. 10%, Amers/APAC
  18%. AM 45%, Bks 32%, CB/OI 14%, Ins/
  PF 8%, Other 1%.

  
  

  
  

Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution

6 IFR Bonds 2327 p 25 - 65 .indd 55 03 / 04 / 2020 20 : 29 : 02