STOCKS IN EUROPE REACT TO SENATE PASSING $2 TRILLION DOLLAR CORONAVIRUS AID PACKAGE. CORONAVIRUS CASES AND DEATHS CONTINUE TO CLIMB IN EUROPE. FTSE 100 +4.45%, German DAX +1.3%, CAC 40 +4.45%, STOXX Europe 600 +6.55%. The 10-year Gilt was up 4.2 bps.
European Bond Research – March 25, 2020Posted on March 25, 2020
EUROPEAN BOND RESEARCH
March 25, 2020
|Industry Returns Tracker|
|New Issues||New Issues [Continued]|
|1. Nestle Finance Intl. LTD (EUR) 1.5% 4/1/2030 (03/24/2020): 1000MM Senior Unsecured Notes, Price at Issuance 99.092, Yielding 1.6%.
2. Nestle Finance Intl. LTD (EUR) 1.125% 4/1/2026 (03/24/2020): 1000MM Senior Unsecured Notes, Price at Issuance 99.419, Yielding 1.226%.
3. Coca-Cola European Partners PLC (EUR) 1.75% 3/27/2026 (03/24/2020): 600MM Senior Unsecured Notes, Price at Issuance 99.084, Yielding 1.913%.
4. Diageo Finance PLC (EUR) 2.5% 3/27/2032 (03/24/2020): 1000MM Senior Unsecured Notes, Price at Issuance 99.601, Yielding 2.539%.
5. Diageo Finance PLC (EUR) 1.875% 3/27/2027 (03/24/2020): 750MM Senior Unsecured Notes, Price at Issuance 99.527, Yielding 1.948%.
6. Diageo Finance PLC (GBP) 2.875% 3/27/2029 (03/24/2020): 300MM Senior Unsecured Notes, Price at Issuance 99.498, Yielding 2.939%.
7. Goldman Sachs Group Inc. (USD) 0% 3/31/2035 (03/24/2020): 50MM Senior Unsecured Notes, Price at Issuance 100, Yielding 0%.
8. TMB Bank Public Company Limited (EUR) 0.25% 3/25/2021 (03/25/2020): 200MM Senior Unsecured Notes.
OVERALL EUROPEAN CREDIT MARKET:
The euro-zone economy shows signs of negative momentum, weakening credit rating quality, and uncertainty regarding the outcome of Brexit. Closely watched indicators and rates:
- Eurostat’s unemployment rate: currently 7.5% (seasonally adjusted, November 2019)
- Eurostat’s quarterly GDP: 0.4% (2019 Q4)
- 6-month Euribor: current value –0.338%, as of 03/24/2020.
Copyright 2020 Advantage Data Inc. All Rights Reserved. http://www.advantagedata.com
Information in this document should not be regarded as an offer to sell or solicitation of an offer to buy bonds or any financial instruments referred to herein. All information provided in this document is believed to be accurate. However, Advantage Data and its sources make no warranties, either express or implied, as to any matter whatsoever, including but not limited to warranties of merchantability or fitness for a particular purpose. Opinions in this document are subject to change without notice. Electronic redistribution, photocopying and any other electronic or mechanical reproduction is strictly prohibited without prior written permission from Advantage Data Inc.
Are you using AdvantageData?
AdvantageData is your fixed income solution for pricing, analytics, reports, and insight on approximately:
- 500,000+ U.S. and international corporate bonds
- Over 6,200+ CDS reference entities
- Over 22,000+ syndicated loans
- Over 100 equity markets worldwide
- One platform 16 products and services from debt to CDS to loans to mid-market
- Used by top buy and sell-side firms worldwide