The Wall Street Journal-20080131-New Securities Issues

Return to: The_Wall_Street_Journal-20080131

New Securities Issues

Full Text (220  words)

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.)

CORPORATE

Bear Stearns Cos. -- $3 billion of senior global notes were priced in a self-led deal, according to people familiar with the deal. Terms: maturity: Feb. 1, 2018; coupon: 7.25%; price: 99.726; yield: 7.289%; spread: 362.5 basis points more than Treasurys; settlement: Feb. 1, 2008 (flat); ratings: A2 (Moody's Investors Service), single-A (Standard & Poor's Rating Service).

GLOBAL

Caisse Centrale Desjardins -- 750 million euros, 2011-dated bond offering was priced through lead-managers Calyon, DZ Bank and Natixis, one of the banks managing the deal said. Terms: maturity: Feb. 8, 2011; coupon: 4.625%; reoffer: 99.76; payment: Feb. 8, 2008; spread: 114 basis points more than bundisobligation; ratings: Aa1 (Moody's), double-A (S&P).

GE Capital European Funding -- 1.5 billion euros of 2009-dated floating-rate notes were priced, bookrunner Deutsche Bank said. GE Money Bank acted as joint-lead manager but not as a bookrunner. Terms: maturity: Aug. 7, 2009; price: 100; reoffer: 100; payment: Feb. 7, 2008; spread: 30 basis points more than three-month Euribor; ratings: Aaa (Moody's), triple-A (S denominations: 50,000 euros; listing: London; interest: quarterly.