The Wall Street Journal-20080116-New Securities Issues
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New Securities Issues
The following were among recent offerings and pricings in U.S. and non-U.S. capital markets, with terms and syndicate manager, based on information provided by Dow Jones Newswires and Factiva. (A basis point is one-hundredth of a percentage point; 100 basis points equal a percentage point.)
GLOBAL
Asian Development Bank -- $1 billion bond due 2011 was priced through joint lead managers Daiwa, Morgan Stanley and Royal Bank of Canada, one of the lead banks said. Terms: maturity: Feb. 15, 2011; coupon: 3%; reoffer: 99.894; payment: Jan. 22, 2008; spread: 51.75 basis points more than Treasurys; ratings: Aaa (Moody's Investors Service), triple-A (Standard & Poor's Rating Service), AAA (Fitch Inc.); denominations: $1,000; listing: Luxembourg; interest: semiannual.
Banco Espirito Santo -- 1.25 billion euro bond issue was priced. Terms: maturity: Jan 25, 2011; coupon: 4.375%; reoffer: 99.997; payment: Jan. 25, 2008; spread: 20 basis points more than midswaps; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch).
Commonwealth Bank of Australia -- $1.4 billion in fixed and floating rate 2011 medium term notes were priced in a multitranche offering as follows: Tranche A (fixed rate notes): amount: $750 million; reoffer yield: 7.835%; coupon: 7.75%; spread: 47 basis points more than semi- quarterly midswaps. Tranche B (floating rate notes): amount: $650 million; spread: 47 basis points more than 90 bank bill swap rate. Common terms: maturity: Jan. 21, 2011; ratings: AA/Aa1/AA.
The International Bank for Reconstruction and Development -- GBP 350 million bond was priced with the following terms through lead managers Royal Bank of Scotland and UBS, one of the leads said: maturity: Jan 25, 2010; coupon: 4.5%; reoffer: 99.749; payment: Jan 15, 2007; spread: 36 basis points more than 4.75% 2010 gilts; ratings: Aaa (Moody's); triple-A (S&P) denominations: 1,000 euros; listing: Luxembourg; interest: annual.
KfW -- GBP 200 million tap of its existing 4.875% bond due 2013 was priced through joint lead managers BNP Paribas and HSBC, one of the lead banks said. The increase brings the total size of the deal to GBP 1 billion. Terms: maturity: Jan. 15, 2013; coupon: 4.875%; reoffer: 100.568; payment: Jan. 15, 2013; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch); denominations: GBP 1,000; listing: Luxembourg; interest: annual.
UBS AG -- 2.5 billion euros 2013-dated bond offering was priced. Terms: maturity: Jan. 21, 2018; coupon: 4.875%; reoffer: 99.944; payment: Jan. 21, 2008; spread: 68 basis points more than midswaps; ratings: Aaa (Moody's), double-A (S&P), AA (Fitch); denominations: 1,000 euros; listing: Luxembourg; interest: annual.
