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EURO BONDS-NRW Bank, Emirates, Nationwide RMBS, Southern Gas

Wed Oct 21, 2009 9:57am EDT

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LONDON, Oct 21 (Reuters) - News, details on bond issues in the European markets on Wednesday:

NRW Bank [LANNWB.UL]

Issue: The state development bank of NorthRhine Westphalia plans Dec. 7, 2012 sterling benchmark bond, as reported by IFR Markets, a Thomson Reuters online news and market analysis service.

Managing banks: HSBC and Royal Bank of Scotland

Guidance: gilts plus 95-100 basis points

Ratings: Moody's Aa1, S&P AA-, Fitch AAA

EMIRATES AIRLINE [EMAIR.UL]

Issue: Dubai's Emirates airline plans a $289 million bond issue to pay for two Boeing 777-300ER aircraft, for delivery in 2009 and 2010.

Timing: Roadshows begin on Thursday in Hong Kong

Managing banks: BNP Paribas.

NATIONWIDE BUILDING SOCIETY

Issue: Roadshow ends on Wednesday for the first public deal out of the RMBS Silverstone MasterTrust.

Guidance: Whispered at mid-swaps plus 150 basis points area, sources close to the deal said.

Timing: Pricing expected later this week

Managing banks: JP Morgan, BarCap, Citi

SOUTHERN GAS NETWORKS [SGNTW.UL]

Issue: the affiliate of Scotia Gas plans a nine-year sterling bond, as reported by IFR Markets, a Thomson Reuters online news and market analysis service.

Priced: 99.689 at 170 basis points over 5 percent 2018 Gilt

Managing banks: Barclays, BNP Paribas, Lloyds and Royal Bank of Scotland

Ratings: Moody's Baa1, S&P BBB, Fitch BBB+

SCOTLAND GAS NETWORKS [SCGNT.UL]

Issue: the affiliate of Scotia Gas plans a 30-year inflation-linked sterling bond, as reported by IFR.

Priced: 100 at 175 basis points over 2037 inflation-linked Gilt

Managing banks: Barclays, BNP Paribas, Lloyds and Royal Bank of Scotland

Ratings: Moody's Baa1, S&P BBB, Fitch BBB+

ABENGOA (ABG.MC)

Roadshow: IFR cites sources that the Spanish engineering company is holding presentations for fixed income investors

Debt programme: Shareholders voted on Monday to allow the company to issue up to 5 billion euros of fixed-rate debt securities over the next five years.

Rating: The company is unrated.


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