News, details on corporate bond issues in the European markets on Wednesday:
Issue: sets size at 1 billion euros for debut seven-year covered bond, as reported by IFR Markets, a Thomson Reuters online news and market analysis service.
Guidance: mid-swaps plus 60 basis points
Managing banks: Deutsche Bank, Natixis, HSBC, UniCredit (HVB) and UBS Investment Bank
Issue: Plans 5.5-year benchmark fixed rate euro bond, said an official at one of the banks managing the sale.
Managing banks: Bayern LB, Commerzbank, DZ Bank, UBS and WestLB.
Rating: Moody's A2, S&P BBB+
Issue: $1.5 billion maximum, 5 and 10-year bond, Reg S. 144a, an official at one of the banks managing the sale said.
Guidance: Expected later on Wednesday
Managing banks: Barclays, ING, Royal Bank of Scotland
WILLIAM HILL (WMH.L)
Issue: British bookmaker plans roadshows next week in London and Scotland on a sterling-denominated bond issue, an official at one of the banks involved said.
Managing banks: Royal Bank of Scotland and Barclays, an official said.
Rating: Moody's Ba1, S&P BB+
GENERAL ELECTRIC CAPITAL UK FUNDING (GEA.N)
Issue: plans 500 million pound 11-year bond, guaranteed by GE Capital Corp, as reported by IFR.
Guidance: Gilts plus 215 basis points, refined from plus 215-220
Managing banks: Barclays, Deutsche Bank, HSBC and UBS
Rating: Moody's Aa2, S&P AA+
HAVAS (EURC.PA) -PRICED
Issue: 350 million euro five-year bond, as reported by IFR.
Guidance: Mid-swaps plus 280 to 290 basis points
Managing banks: CMCIC, Natixis and Oddo et Cie
Issue: opens books on euro-denominated perpetual Tier 1 notes, non-call 5 years, as reported by IFR
Yield guidance: around 9 percent
Managing banks: Citigroup, Goldmans Sachs, Nykredit, UBS
Senior ratings: A1 Moody's, A+ S&P
PHOENIX NATURAL GAS
Issue: 275 million pound maturing July 2017, as reported by IFR.
Spread guidance: Gilts plus 240-250 basis points
Managing banks: Barclays and Royal Bank of Scotland
Expected rating: Moody's Baa2, Fitch BBB+
DEXIA LdG BANQUE SA - PRICED
Issue: 500 million euro, three-year inaugural public euro covered bond under the Luxembourg lettres de gauge framework, as reported by IFR. The new issue is backed by public-sector loans, according to S&P
Guidance: mid-swaps plus 40 basis points, refined from around 45 basis points earlier
Managing banks: BNP Paribas, Deutsche Bank, Dexia Capital Markets and Royal Bank of Schotland
Rating: S&P AAA