LONDON, April 15 News, details on corporate bond
issues in the European markets on Thursday:
Mandate: The German healthcare services provider plans a
7-year senior benchmark euro bond, an official with one of the
banks managing the deal said.
Managing banks: Credit Agricole, Deutsche Bank, ING, Royal
Bank of Scotland and Unicredit.
VOTORANTIM PARTICIPAÇÕES VOTOR.UL
Issue: The Brazilian conglomerate plans a debut euro
benchmark bond issue after pan-European investor meetings, said
an official at one of the banks managing the sale. The issuing
entity will be Voto-Votorantim Ltd., and it will be guaranteed
by Votorantim Participações S.A., Votorantim Cimentos Brasil
S.A., and Companhia Brasileira de Alumínio
Managing banks: Deutsche Bank, HSBC and SG CIB
Ratings: Moody's Baa3, S&P BBB, Fitch BBB-
INTESA SANPAOLO (ISP.MI)
Issue: Italy's biggest bank plans a 2 billion euro benchmark
7-year covered bond, according to sources close to the deal
Guidance: mid-swaps plus 50 basis points
Managing banks: Banca IMI, Barclays, Deutsche Bank, Royal
Bank of Scotland, Societe Generale
ANHEUSER-BUSCH INBEV (ABI.BR)
Mandate: The drinks manufacturer plans to issue a 750
million euro bond with an eight-year maturity later on Thursday,
a bank involved in the sale said.
Guidance: mid-swaps plus 105 basis points, versus an initial
range of 105-110 basis points
Managing banks: Deutsche Bank, RBS, SG and Santander
Rating: Moody's Baa2, S&P BBB+
LLOYDS TSB BANK (LLOY.L)
Mandate: The UK bank plans to issue a 750 million pound
15-year Lower Tier 2 bond, according to an official at a bank
managing the sale.
Managing banks: BNP Paribas, JP Morgan Cazenove, Lloyds
IRISH LIFE & PERMANENT IPM.I
Issue: Plans a three-year 1.25 billion euro
government-guaranteed benchmark bond, IFR reported.
Guidance: mid-swaps plus 135 bps
Managing banks: Bank of America Merrill Lynch, BNP Paribas,
Deutsche Bank and JP Morgan
THOMAS COOK (TCG.L)
Issue: The British holiday tour operator is planning a
dual-tranche bond offering: a 400 million euro June 2015 tranche
and a 300 million pound June 2017 tranche, IFR reported.
Yield guidance: 6.875 percent on the euro tranche and 7.75
percent on the sterling tranche, versus initial levels of 7
percent area and 7.875 percent area respectively
Managing banks: Barclays Capital and HSBC for both tranches.
Joined by Commerzbank and SG for the euro, and just Lloyds for
(London Corporate Finance: +44 207 542 8389)