The Wall Street Journal-20080125-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
Driver Five GmbH -- 1.255 billion euro asset-backed securities were priced in a multitranche offering through joint lead managers ABN Amro Holdings NV and HSBC Holdings NV, one of the lead managers said. Terms: Amount: 1.214 billion euros; legal final maturity: February 2014; weighted average life: 1.95 years; coupon: 58 basis points more than one-month Euribor; ratings: Aaa (Moody's Investors Service), triple-A (Standard & Poor's Ratings Service), AAA (Fitch Inc.). Amount: 40.3 million euros; legal final maturity: February 2014; weighted average life: 2.44 years; coupon: 140 basis points more than one-month Euribor; ratings: A1 (Moody's), A-plus (S&P), A+ (Fitch). Common terms: price: 100.
Export Development Canada -- $1.25 billion bond was priced through lead manager BNP Paribas SA, HSBC Holdings PLC, Royal Bank of Canada and TD Securities, a lead manager said. Terms: maturity: March 15, 2011; coupon: 2.625%; reoffer: 99.585; payment: Jan, 31, 2008; spread: 57.5 basis points more than Treasurys; ratings: Aaa (Moody's), triple- A (S&P), AAA (Fitch); interest: semiannual.
General Electric Capital Corp. -- $500 million bond was priced through lead managers Deutsche Bank AG and UBS AG, a lead manager said. Terms: maturity: Jan. 31, 2013; coupon: 4.25%; reoffer: 99.473; payment: Jan. 24, 2008; spread: 85 basis points more than midswaps; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch); denominations: $1,000; listing: London.
Joint-Laender 29 -- 1.5 billion euro, 2015-dated bond offering was priced through joint-lead managers Credit Suisse, HSBC, J.P. Morgan and LBBW, a lead manager said. Terms: maturity: Jan. 30, 2015; coupon: 4.125%; reoffer: 99.910; payment: Jan. 30, 2007; spread: six basis points below midswaps; ratings: AAA (Fitch); listing: All German Stock Exchanges.
KfW -- GBP 250 million bond issue was priced through lead managers HSBC and Royal bank of Scotland, a lead manager said. Terms: maturity: Feb. 1, 2018; coupon: 4.875%; reoffer: 99.659; payment: Feb. 1, 2008; spread: 35 basis points more than gilts; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch); denominations: GBP 1,000; listing: Luxembourg.
