EURO BONDS-NRW Bank, Emirates, Nationwide RMBS, Southern Gas
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.
Guidance: 170 to 175 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.
Guidance: 170 to 180 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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