International Financing Review September 8 2018 51BONDS SUMMARY DETAILS
GLOBAL BOND SUMMARY DETAILS: WEEK ENDING 7/9/2018 (CONTINUED)
Pricing date Issuer Amount Maturity Coupon (%) Reoffer Spread (bp) Yield (%) Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution
Sep 6 2018 Cigna US$1.75bn Sep 17 2020 3.2 99.92 T+60 3.241 T+75 area,
T+65 (+/-5)0 US$2.3bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$1.25bn Sep 17 2021 3.4 100 T+70 3.4 T+85 area,
T+75 (+/-5)0 US$3.6bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$1bn Sep 17 2021 (Sep 2019) 3mL+65 100 3mL+65 3mL+65 L+80 area,
3mL+70 (+/-5)FRN US$2.6bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$3.1bn Jul 15 2023 3.75 99.95 T+102 3.763 T+120 area,
T+105 (+/-3)0 US$8bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$700m Jul 15 2023 3mL+89 100 3mL+89 3mL+89 3mL equiv,
3mL equivFRN US$2bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$2.2bn Nov 15 2025 4.125 99.92 T+132 4.137 T+150 area,
T+135 (+/-3)0 US$8.7bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$3.8bn Oct 15 2028 4.375 99.87 T+152 4.391 T+170 area,
T+155 (+/-3)0 US$12.3bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$2.2bn Aug 15 2038 4.8 99.84 T+177 4.813 T+195 area,
T+180 (+/-3)0 US$7.9bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -Sep 6 2018 Cigna US$3bn Dec 15 2048 4.9 99.78 T+187 4.913 T+205 area,
T+190 (+/-3)0 US$12.3bn Baa1/A-/BBB- BAML/JPM/MS/WFS(a)Citi/MUFG(p) -EUROS
Sep 3 2018 Heineken €600m Mar 17 2027 1.25 99.491 MS+60 / B+116.4 1.314 MS+75/80,
MS+60/655 c.€1.5bn Baa1/BBB+ DB/ING/JPM/MUFG/SG -Sep 3 2018 Heineken €650m Mar 17 2031 1.75 99.601 MS+80 / B+155.1 1.877 MS+100 area,
MS+80/855 >€1.5bn Baa1/BBB+ DB/ING/JPM/MUFG/SG -Sep 4 2018 Investor AB €500m Sep 12 2030 1.5 99.782 MS+47 / B+117.2 1.52 MS+60/65,
MS+50 (+/-3)
€950m Aa3/AA- Barc/Citi/GS/SEB -
Sep 4 2018 2i Rete €500m Sep 11 2025 2.195 100 MS+165 / B+220.7 2.195 MS+175 area,
MS+165/17035 ~€850m Baa2/BBB Barc/BNPP/GS/Uni It 30%, Ger/Aus 30%, UK/Ire 16%, Iberia
8%, Benelux 5%, Fr 5%, Switz 4%,
Nordics 2%. AM/HF 63%, OI 18%, Bks/FI
11%, Ins/PF 8%.
Sep 4 2018 Telefonica €1bn Sep 11 2025 1.495 100 MS+95 / B+150.6 1.495 MS+115 area,
MS+95/1007 €1.5bn Baa3/BBB/BBB BLB/Medio/MS/Santan/SG/Uni -Sep 5 2018 ADM €650m Sep 12 2025 1 99.524 MS+50 / B+103.8 1.071 MS+60/65 10 A2/A Barc/BNPP/MUFG -
Sep 5 2018 NKT A/S (hybrid) €150m Sep 12 3018 (Sep 2022) 5.375 100 MS+523 5.375 5.5% area - >€400m - Danske/Nordea/Nyk -
Sep 5 2018 Orange €800m Sep 12 2025 1 99.35 MS+53 / B+106.7 1.097 MS+65 area 13 >€1.2bn Baa1/BBB+/BBB+ GCs BAML/SG + CA-CIB/DB/
NatWestGer/Aus 27 %, Fr 25%, UK/Ire 15%,
Benelux 10%, Nordics 7%, Switz 5%,
S.Eur 5%, Asia 3%, Other 3%. FM 50%,
Bks/PB 22%, OI 16%, Ins/PF 9%, Other
3%.
Sep 5 2018 Orange €1.2bn Sep 12 2030 1.875 99.501 MS+85 / B+153.1 1.922 MS+100 area 12 >€1.8bn Baa1/BBB+/BBB+ GCs BAML/SG + CA-CIB/DB/
NatWestFr 36%, Ger/Aus 22%, UK/Ire 16%,
Benelux 8%, Switz 5%, Asia 5%, Nordics
4%, S.Eur 3%, Other 1%. FM 60%, Ins/
PF 18%, OI 10%, Other 9%, Bks/PB 3%.
Sep 5 2018 SKF €300m Sep 17 2025 1.25 99.416 MS+77 / B+130.9 1.338 MS+90/95,
MS+80 (+/-3)17 >€1bn Baa2/-/BBB BAML/Citi/Nordea -Sep 5 2018 Stedin Holding €500m Sep 19 2028 1.375 98.838 MS+60 / B+111.3 - MS+70 area,
MS+60/6512 >€1bn -/A- ING/MUFG/NatWest/Rabo -Sep 5 2018 Suez €500m Sep 17 2030 1.625 99.482 MS+60 / B+128.4 1.673 MS+75 area,
MS+60/6512 >€1.2bn A3 Barc/BNPP/ING/NatWest/Uni -Sep 6 2018 Amadeus IT Group €500m Mar 18 2022 3mE+45 100 3mE+45 - 3mE+60 area 5 >1.4bn Baa2/BBB BNPP/CA-CIB/JPM/MUFG/Uni Iberia 45%, Fr 21%, Ger/Aus 14%, Switz
6%, UK 5%, Benelux 5%, Other 4%. AM
77%, CB/OI 12%, Ins/Pen 7%, Bks/PB
2%, Other 2%.
Sep 6 2018 Amadeus IT Group €500m Sep 18 2023 0.875 99.898 MS+60 / B+115.1 0.896 MS+75/80 8 >2.4bn Baa2/BBB BNPP/CA-CIB/JPM/MUFG/Uni Ger/Aus 24%, UK 23%, Fr 19%, Iberia
17%, Benelux 7%, Switz 3%, Other 7%.
AM 72%, Ins/Pen 12%, CB/OI 9%, Bks/
PB 5%, Other 2%.
Sep 6 2018 Amadeus IT Group €500m Sep 18 2026 1.5 99.761 MS+85 / B+139.6 1.532 MS+100/105 12 >2.3bn Baa2/BBB BNPP/CA-CIB/JPM/MUFG/Uni UK 29%, Fr 22%, Ger/Aus 20%, Iberia
8%, Benelux 7%, Switz 6%, Other 8%.
AM 70%, Ins/Pen 15%, CB/OI 10%, Bks/
PB 3%, Other 2%.
STERLING
Sep 5 2018 BMW £350m Sep 11 2023 1.875 99.388 G+95 1.995 G+105 area 10 - A1/A+ Barc/NatWest -
Sep 6 2018 AT&T £750m Dec 4 2026 2.9 99.687 G+170 2.923 G+180 area,
G+170/17510 - Baa2/BBB/A- Barc/CS/RBC -Sep 7 2018 Peabody Capital £350m Sep 14 2048 3.25 97.82 G+155 3.366 G+165/170 - - A3 Barc/HSBC/Santan -
SWISS FRANCS
Sep 3 2018 Adecco SFr100m Sep 18 2026 0.875 100.173 MS+65 /
Eidg+110.20.853 MS+65/75 0 SFr120m , >50 acs Baa1/BBB+ CMZ/CS Switz 100%. AM 34%, PB 29%, PF 16%,
Ins 11%, Tsy 10%.
Sep 4 2018 Roche SFr500m Sep 24 2025 0.25 100.243 MS+12 / Eidg+52 0.215 MS+13/15 -2 SFr500m, 109 acs Aa3/AA CS/DB/UBS Switz 100%. AM 42.36%, Tsy 23.59%, PF
14.65%, Ins 12.11%, Retail/PB 7.3%.
Sep 4 2018 Roche SFr400m Sep 24 2030 0.75 100.344 MS+17 / Eidg+64 0.72 MS+18/20 0 SFr400m, 81 acs Aa3/AA CS/DB/UBS Switz 100%. AM 37.09%, Tsy 25.1%, PF
20.54%, Ins 13.36%, Retail/PB 3.9%.6 Bonds 2250 p25-55.indd 51 07/09/2018 19:30:02