EURO BONDS-ING, Santander, Banco Popolare, CRH, Ladbrokes

LONDON | Wed Feb 24, 2010 10:45am EST

LONDON Feb 24 (Reuters) - News, details on corporate bond issues in the European markets on Wednesday:

ING (ING.AS)

Mandate: The Dutch bank plans a five-year, 1.25 billion euro senior unsecured benchmark fixed-rate bond, an official at ING said. Books have exceeded 1.5 billion euros.

Guidance: Mid-swaps plus 105 bps, at the tight end of an initial range of plus 105 to 110 bps.

Managing banks: Barclays Capital, Credit Suisse and ING.

Ratings: Moody's Aa3, S&P A+, Fitch A+

BANCO SANTANDER (SAN.MC)

Mandate: The Spanish bank plans a 5-year benchmark senior unsecured euro bond, to be launched in the near future subject to market conditions, an official at one of the banks managing the sale said.

Managing banks: Barclays Capital, Credit Suisse, Natixis and Santander.

Ratings: Moody'a Aa2, S&P AA, Fitch AA.

BANCO POPOLARE (BAPO.MI)

Issue: The Italian bank is launching a 1 billion euro 7-year covered bond, sources close to the deal said. [ID:nWEB1968]

Guidance: Indicated in the "low 80s" in basis points over mid-swaps.

Managing banks: LBBW, Natixis, Royal Bank of Scotland, UBS and Aletti, as reported by IFR Markets, a Thomson Reuters online news and market analysis service.

CAISSE DE REFINANCEMENT DE L'HABITAT (CRH)

Issue: Plans to add to its existing covered bond issue of 3.145 billion euros of 4.25 percent due October 2014, said IFR Markets.

Guidance: mid-swaps plus 25 bps area

Managing banks: Barclays, BNP Paribas and HSBC

Rating: Moody's Aaa

LADBROKES (LAD.L)

Issue: Britain's biggest bookmaker is issuing a 7-year 200 million pound bond, which is due to price later this week, IFR reported. Final size is dependent on results of a buy-back tender of the firm's $250 million 7.125 pct notes due 2012.

Price talk: to yield 7.625-7.875 percent

Managing banks: Royal Bank of Scotland and Barclays.

Ratings: Moody's (LC) Ba2, S&P BB, Fitch BB+

SWEDBANK (SWEDa.ST)

Mandate: The Swedish bank plans a three-year senior unsecured benchmark euro bond, said an official at one of the banks managing the sale.

Guidance: Mid-swaps plus 133 to 135 basis points, IFR reported.

Managing banks: Bank of America Merrill Lynch, Barclays, Deutsche Bank and Swedbank.

Rating: Expected to be rated A2 by Moody's and A by S&P.

LF HYPOTEK

Mandate: plans debut benchmark euro covered bond, to be launched subject to market conditions following a pan-European roadshow, an official at one of the banks managing the sale said.

Managing banks: Credit Suisse, Danske Bank, Deutsche Bank and Royal Bank of Scotland.

SBAB [SBAB.UL]

Issue: The Swedish state-owned mortgage lender plans a 2-year floating rate benchmark euro bond, IFR said.

Guidance: Three-month Euribor plus 50 basis points area.

Managing banks: Danske Bank, HSBC and UBS.

(London Corporate Finance: +44 207 542 8389)

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