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