
Euro Credit: Activity Slows A little Ahead Of MPC/ECB
LONDON, Mar. 4 (MNI) - The new issues market has seen slightly less activity ahead of central bank meetings today, although a few new names did join the pipeline.
Rhoen-Klinikum has awarded a mandate for a E400 million new issue with 6 year maturity. Leads will be Credit Suisse, Unicredit and WestLB. initial price talk is around the mid-swap + 125bps area.
Andalucia is bringing a Euro denominated deal that will be managed by BBVA, Caja Madrid, Credit Agricole and HSBC.
Credit Agricole is bringing a Euro denominated FRN, self led. Price talk is around mid-swaps +125bps.
Telstra has reportedly hired BNP Paribas, Deutsche Bank and JPMorgan to conduct a roadshow with a view to bringing a new deal.
EURO SUPPLY PIPELINE: Mar. 4
FINANCIALS
* Credit Agricole - Euro FRN, self led, mid-swaps +125bps. * Banco Popolare Espanol - Has hired RBS and UBS to run a covered bond program on its behalf, according to sources. * VEB - Is to issue an inaugural deal in Euros. Leads are Barclays, Citigroup, HSBC and SocGen. * Terra Boligkredit - Is to issue a covered deal in Euros. The deal will be launched following investor presentations and the leads are Commerzbank, Danske Bank, UBS and UniCredit. * LF Hypotek - Is to issue a benchmark, covered deal in Euros. Leads are Credit Suisse, Danske Bank, Deutsche Bank and RBS.
CORPORATES
* Rhoen-Klinikum - E400mil 6yr. Leads Credit Suisse, Unicredit and WestLB. mid-swap + 125bps area. * Telstra - BNP Paribas, Deutsche Bank and JPMorgan to conduct roadshow. * Abengoa - Is rumoured to be considering issuing a deal in Euros, at some time in the near future. Leads are mooted to be BNPP, Deutsche Bank, Calyon, Credit Suisse, Banco Santander and SocGen. * Vestas - Has hired Nordea, Rabobank, SocGen and UniCredit to arrange a European roadshow starting this week. * Rhoen-Klinikum - Is to issue a E400 million deal in Euros. Leads are Credit Suisse, UniCredit and WestLB.
OTHERS
* Andalucia -Euro deal managed by BBVA, Caja Madrid, Credit Agricole and HSBC. * Madrid - Euro 10yr mid-swaps +130bps. Caja Madrid, HSBC and Credit Agricole. * The state of North Rhine-Westphalia - Is to issue a E250 million, 5 year FRN deal. Price talk is in the Euribor plus 15 bps area and the sole lead is DZ Bank.

