The Wall Street Journal-20080118-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
Banques Populaires -- 1 billion euro covered bond was priced with the following terms through lead managers Barclays Capital, Deutsche Bank AG, and Natixis: maturity: Jan. 29, 2013; coupon: 4.25%; reoffer: 99.757; payment: Jan. 29, 2008; spread: 20 basis points more than midswaps; ratings: Aaa (Moody's Investors Services); listing: Luxembourg.
Barclays Bank PLC -- 1.75 billion euro bond offering was priced with the following terms: maturity: Jan. 23, 2018; coupon: 6%; reoffer: 99.993; payment: Jan. 23, 2008; spread: 165 basis points more than midswaps; ratings: Aa2 (Moody's), double-A minus (Standard & Poor's Rating Service), AA (Fitch Inc.); denominations: 50,000 euros and 1,000 euros; listing: London; interest: annual.
HeidelbergCement Finance BV -- 1 billion bond euro issue was priced through lead managers Deutsche Bank AG and Royal Bank of Scotland Group PLC. Terms are as follows: maturity: Jan. 20, 2012; coupon: 6.325%; reoffer: 99.859; payment: Jan. 25, 2008; spread: 237.5 basis points more than midswaps; guarantor: HeidelbergCement AG; ratings: Baa3 (Moody's), triple-B minus (S&P), BBB- (Fitch).
Instituto de Credito Oficial -- $1.5 billion euro bond offer was priced through joint-lead managers Credit Suisse Group, J.P. Morgan Chase & Co. and RBC Capital Markets. Terms are as follows: maturity: March 15, 2011; coupon: 3%; reoffer: 99.820; payment: Jan. 25, 2008; spread: 53.75 basis points more than Treasurys; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch); denominations: $1,000; $10,000; $100,000; listing: Luxembourg.
J.P. Morgan Chase & Co. -- 1.75 billion euro bond offering was priced with the following terms: maturity: Jan. 31, 2011; coupon: 4.625%; reoffer: 99.718; payment: Jan. 31, 2008; spread: 72 basis points more than midswaps; ratings: A2- (Moody's), double-A minus (S&P), AA- (Fitch); denominations: 50,000 euros; listing: London; interest: annual.
Kommunalkredit -- 1 billion euro covered bond issue was priced through lead managers Citi, Dresdner Kleinwort and UBS AG. Terms are as follows: maturity: Jan. 24, 2012; coupon: 4%; reoffer: 99.79; payment: Jan. 24, 2008; spread: 35.7 basis points more than bundisobligation; ratings: Aaa (Moody's); denominations: 1,000 euros; listing: Luxembourg, Vienna.
