15 mar: BOE Broadbent: Rise In Gilt Yields Reflects Positive News On Glob..
15 mar: China Net Buyer Of US Treasurys In January
15-03-2012 13:44:00

EUROBONDS: Primary Activity Muted, Euro-Zone Data Disappoints

By Sarka Halas

Of DOW JONES NEWSWIRES

LONDON -(Dow Jones)- The European primary bond market was muted Thursday with only a handful of deals emerging, while the cost of insuring European debt against default was mostly higher.

First in the primary Thursday was BNP Paribas Home Loan SFH (BNP.FR), the French lender's covered bond issuing unit. It's to price its EUR1 billion, 10-year deal at 85 basis points over midswaps, tighter than initial guidance in the area of 90 basis points.

In the corporate space was French-Dutch real-estate company Unibail-Rodamco SA (UL.FR). It set pricing on its euro-denominated, benchmark-size, seven-year bond at 105 to 110 basis points over midswaps.

Spanish construction company Obrascon Huarte Lain SA (OHL.MC) is planning a new EUR300 million eight-year bond. The high-yield bond will be priced later Thursday. It's non-callable for four years.

At the same time, the company is buying back up to EUR300 million of its existing EUR700 million, 7.375% bond maturing 2015, the company said in a statement. The repurchase price is 105.50% of the bond's face value. The offer is due to expire March 23.

Obrascon Huarte Lain said the tender is part of an exercise to manage its bond redemptions and extend the average maturity of its debt. Any bonds that are bought back will be cancelled and won't be reissued or resold, the company said.

Elsewhere, the cost of insuring European sovereign and corporate debt mostly rose, while data from the European Union indicated that consumption and confidence remain weak due to declining employment and falling real wages in the euro zone. Data showed that employment declined 0.2% both on the quarter and on the year in the final three months of last year.

Around 1250 GMT, the SovX Western Europe index, which investors can use to buy or sell credit default swaps on a basket of sovereign borrowers, was at 225/229 basis points, three basis point wider than Wednesday's close. The index is now being quoted without Greece, according to data-provider Markit.

Credit default swaps are derivatives that function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers.

The iTraxx Europe index, which comprises 125 high-grade borrowers, 25 of which are banks and insurers, was at 126/127 basis points, unchanged from Wednesday's close, according to data provider Markit.

The Crossover index of 40 mostly sub-investment-grade European corporate borrowers was four basis points wider at 557/560 basis points.

-By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9436; sarka.halasova@dowjones.com

(Ben Edwards and Serena Ruffoni in London contributed to this report)

(END) Dow Jones Newswires

March 15, 2012 09:44 ET (13:44 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
15 apr
GEN
Beklager Drama .. jeg orker simpelthen ikke dit barnlige og løgnagtige pjat. Men at starte en ny trå..
19
18 apr
VWS
Der har ikke været skrevet meget om hvad det nye MHI Vestas JV vil i Kina. Det har været nævnt kort ..
14
16 apr
TOPO
Jeg ser et par forskellige dynamikker udspille sig:   1) Hvad er fusionspartneren, Bioalliance, reel..
14
13 apr
OMXCPI
Ja, risiko for borgerkrig i Ukraine. Sådan går det med stater, der mangler sammenhængskraft og hvor ..
13
14 apr
VELO
Det er ikke en gåde. På mødet i marts fik Veloxis de obligatoriske 180 dages spørgsmål. I det sekund..
10
16 apr
VWS
Vestas får jo ordrer på 13-14% af alle verden vindmølleprojekter, så alene derfor kan det jo ikke væ..
9
17 apr
YHOO
Yahoo! har mildest talt levet en omtumlet tilværelse. Selskabet har slet ikke formået at udnytte sin..
8
14 apr
 
Bølgerne har tidligere herinde gået højt om det efter nogles menings ligegyldige (worst case: ødelæg..
8
14 apr
FING-B
Sæt Jer nu ind i sagen - både din kone + dig selv, XO / keep-it../div. nicks.   Dagens udmelding fal..
8
18 apr
VWS
Den overvejelse vil jeg i bedste fald kalde irrelevant. For det første er længder af kyststrækninger..
7

Danske/dir: Har indskærpet reglerne for vores handlere

16-04-2014 15:01:39
I lyset af den bøde, Danske Bank har fået for brud på børsens regler, har banken indskærpet handelsreglerne for sine mange handlere. Det fortæller Henrik Voetma..

Danske Bank får bøde på 410.000 kr. af børsen - NY

16-04-2014 13:11:16
Danske Bank har fået en bøde på 500.000 skr., eller 410.500 kr., af selskabet bag fondsbørsen i København, Nasdaq OMX.Bøden er givet, fordi banken angiveligt ha..

Aktier/middag: Nervøse smil præger fortsat markedet

16-04-2014 11:32:27
Investorerne ser ud til at ville fylde aktiedepoterne op, før kursen sættes mod røget laks, snaps og påskeferie. I hvert fald er de danske aktier i glimrende fo..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
Ingen data fundet.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
20. april 2014 19:39:47
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20140324.1 - EUROWEB7 - 2014-04-20 19:39:47 - 2014-04-20 19:39:47 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x