EURO BONDS-Akzo Nobel, Lottomatica, BPCE, Stagecoach, M&S
LONDON |
LONDON Nov 25 (Reuters) - News, details on corporate bond issues in the European markets on Wednesday:
MARKS & SPENCER (MKS.L)
Issue: The UK retailer plans a 10-year senior unsecured 400 million pound ($669 million) bond, said IFR, a Thomson Reuters online news and market analysis service.
Guidance: gilts plus 245 basis points refined from gilts plus 250-260 basis points.
Managing banks: Citigroup, HSBC, Morgan Stanley, RBS
Ratings: S&P BBB-
RCI BANQUE
Issue: The financier of French car company Renault (RENA.PA), RCI Banque, plans a 19-month fixed rate euro benchmark bond, said IFR.
Managing banks: Citi, Commerzbank, SocGen
AKZO NOBEL (AKZO.AS)
Tender: The Dutch chemical group has offered to buy back 750 million euros ($1.12 billion) of debt due in 2011 as part of plans to extend its debt maturity profile, which may include a new bond issue. [ID:nGEE5AO0AQ]
Managing banks: Citigroup, Deutsche Bank, RBS
Ratings: S&P BBB+, Moody's Baa1, Fitch BBB+
WALES & WEST UTILITIES [MGNTSW.UL]
Issue: Books for the planned 200 million pound ($330.8 million) 7-year senior secured bond from the utility company have opened at gilts plus 215 basis points area, said IFR.
Managing banks: Barclays, Commerzbank, RBS
Rating: Moody's Baa1
AGROKOR [AGROK.UL]
Issue: The Croatian food and retail conglomerate is on the road until the end of the week for its planned 400 million euro 7-year senior unsecured bond.
Managing banks: BNP Paribas, UniCredit
Rating: Moody's B2
STAGECOACH GROUP (SGC.L)
Roadshow: The UK transport group is planning a roadshow to update UK-based bond investors ahead of its half-year results on Dec. 9. These will be in London on Nov. 27 and Dec. 1, and in Scotland on Nov. 30.
Managing banks: Barclays, HSBC, Lloyds
INTERCONTINENTAL HOTELS GROUP (IHG.L)
Roadshow: The hotel chain is planning a roadshow for bond investors and is considering a new issue, subject to market conditions. Meetings will be in London on Nov. 30 and Dec. 1 and in Scotland on Dec. 2.
Managing banks: Barclays Capital, HSBC, RBS
LOTTOMATICA (LTO.MI)
Issue: plans 7-year 750 million euro denominated bond, according to a banker involved in the sale. Books closed.
Spread: Refined to mid-swaps plus 235 basis points, from earlier 240-250 basis points.
Managing banks: Banca IMI, RBS, Calyon, HSBC
Ratings: Moody's Baa3, S&P BBB-
BPCE [BPCE.UL]
Issue: plans two-tranche 1.75 billion euro bond, split between a 1.25 euro billion 18-month floating-rate note and a 500 million euro 3-year fixed-rate bond, as reported by IFR Markets.
Guidance: For FRN is 3-month Euribor plus 40 basis points, refined from an initial plus 40 basis points area. For the 3-year bond guidance is mid-swaps plus 60 basis points, refined from 60-65 basis points.
Managing banks: Barclays Capital, Natixis
Ratings: Moody's Aa3, S&P A+, Fitch A+
(London Corporate Finance: +44 207 542 8389) ($1=.6045 Pound) ($1=.6708 Euro) ($1=.5979 Pound)
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