Nuove_emissioni, collocamenti Nuove Emissioni

[gionmorg]

New bond issue: ENN Energy Holdings sells USD 750m in 2021 bonds with 6.0% coupon

ENN Energy Holdings (China) on May 6, 2011 placed USD 750m in bonds with a 6.0% coupon, maturing in 2021. The bond was priced at 99.274% to yield 6.098%. Bank of China, Citigroup, RBS arranged the deal.

Issuer, issue number: ENN Energy Holdings, 2021
Type of debt instrument: Eurobonds
Issue status: outstanding
Type of placement: public
Par, currency of issue: USD, 200000
Amount: 750 000 000
ISIN: USG3066LAA91
End of placement: May 06 2011
Issue price: 99.274
Yield at Pricing: 6.098%
Coupon: 6.0%
Coupon frequency: 2 time(s) per year
Settlement Date: May 13 2011
Maturity date: May 13 2021
Issue Managers: Bank of China, Citigroup, RBS
Issuer profile:
ENN Energy Holdings Ltd. is ENN’s publicly-traded subsidiary and energy distribution arm. It was listed on the Hong Kong Stock Exchange in 2001 under the code 2688HK.
ENN Energy supplies customers with clean burning fuels via its 15,000-kilometer gas pipeline network and more than 170 re-fueling stations. The company laid its first gas pipelines in 1992 and now primarily supplies energy management services and distributes natural gas, liquefied petroleum gas and other clean-burning fuels. It can deliver up to 22.71 million cubic meters of natural gas a day.

Outstanding issues:
1 issue(s) outstanding worth USD 750 000 000

 

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New bond issue: Sino-Ocean Land sells USD 400m in bonds with 10.25% for the first 5 years, to be reset at 8.31% + 3% + Treasury Rate after the first call date coupon

Sino-Ocean Land (China) on May 6, 2011 placed USD 400m in bonds with a 10.25% step-up coupon. The bond was priced at 100%. BOC International, Goldman Sachs, HSBC arranged the deal.

Issuer, issue number: Sino-Ocean Land, perp (step-up)
Type of debt instrument: Eurobonds
Issue status: outstanding
Type of placement: public
Par, currency of issue: USD, 200000
Amount: 400 000 000
End of placement: May 06 2011
Issue price: 100
Coupon: 10.25% for the first 5 years, to be reset at 8.31% + 3% + Treasury Rate after the first call date
Coupon frequency: 2 time(s) per year
Settlement Date: May 13 2011
Issue Managers: BOC International, Goldman Sachs, HSBC
Trading floor: SGX
Issuer profile:
Sino-Ocean Land is a real estate state-owned joint-venture enterprise in Mainland China, which is a subsidiary company of COSCO (Hong Kong) Group. It was established on 12 June 1993 under its previous name of "COSCO Real Estate Development Corporation".It is one of the largest real estate companies in Beijing and has a diversified portfolio of development projects and investment properties in Beijing, Pan-Bohai Bay, Yangtze River Delta, and Pearl River Delta regions. On 12 March 2007, it was incorporated in Hong Kong whose shares were listed on the Hong Kong Stock Exchange in September 2007 with its IPO price at HK$7.7 per share. Since 10 March 2008, Sino-Ocean Land joined Hang Seng China-Affiliated Corporations Index Constitute Stock (red chip stock).

Outstanding issues:
2 issue(s) outstanding worth USD 1 300 000 000

 

[gionmorg]

Gerresheimer issued bonds with a maturity of 7 years, Guidance: Mid Swap +200 to 210 bp
Volume: 300 million €.
The packaging specialist Gerresheimer AG issued a corporate bond with a volume of € 300 million and a maturity of 7 years. As bookrunner were Commerzbank, German Bank, RBS and UniCredit mandated.

After the repayment of outstanding corporate bonds in the amount of € 126 million in April, the company had announced to issue a bond in the second quarter.

Of the transaction:

Issuer: Gerresheimer AG
Guarantor: Gerresheimer Glas GmbH, Regensburg Gerresheimer GmbH Gerresheimer Glass Inc. (USA)
Ratings: BBB-, Ba1
Format: Senior unsecured
Volume: 300 million €
Coupon: n.bek.
Guidance: Mid Swap +200 to 210 bp
Duration: 19/05/2018
Covenants: Chance of Control, corss default
Angew. Law: German Law
Listing: Luxembourg
Denomination: 1,000 €
Bookrunner: Commerzbank, German Bank, RBS and UniCredit
ISIN: XS0626028566
Internet: Gerresheimer:Home

YTM 5.20 % circa

 

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SEB bank issues bonds with a maturity of 5 years
Guidance: Mid Swap +90 to 95 bp
Skandinaviska Enskilda Banken AB (SEB) issued a corporate bond with a maturity of 5 years. Were mandated as bookrunner Goldman Sachs, Morgan Stanley, SEB and UBS. Expect a spread 90-95 basis points over mid swap.

Of the transaction:

Issuer: Skandinaviska Enskilda Banken AB (SEB)
Ratings: A1, A, A +
Format: Senior unsecured
Volume: EUR Benchmark (n.bek.)
Coupon: n.bek.
Guidance: Mid Swap +95 to 95 bp
Duration: 5 years
Listing: London Stock Exchange regulated market
Denomination: 100.000 + 1.000 €
Bookrunner Goldman Sachs, Morgan Stanley, SEB and UBS

 

[gionmorg]

DIC Asset placed bond in the amount of 70 million Euroo
Initial listing on the Open Market is for 16 May provided
DIC Asset AG acquired around 70 million € additional funds through the placement of a five-year corporate bond. This was on 5 to 11 May 2011 be subscribed for and was offered in a volume of up to 100 million euros. The underwriters had guaranteed the placement of 60 million Euroo. The unsecured corporate bond bears interest at 5.875%. It is in the open market of the German Stock Exchange AG is not included (Entry Standard segment for bonds). The first listing is for 16 May 2011 provided. Following this first transaction further steps be taken in planning to get further if necessary to establish it on the market for corporate bonds. Together with the capital increase in March 2011 that brought the company for around 52 million Euroo new funds, the DIC Asset AG to finance its planned growth at an additional pillar that enhances their flexibility to acquire additional properties and real estate portfolios significantly.

DIC Asset also announced the results for the first quarter of this year. The quarterly result was influenced by two main factors: on the one hand, it has managed to achieve on the basis of a smaller portfolio volume very stable results (portfolio volume had been reduced through sales and transfers of fund properties): The consolidated surplus of 2.8 million Euroo exactly at the same level and FFO is only € 10.0 million, marginally below the previous year (Q1/2010: EUR 10.9 million). On the other hand, a total of 48 300 sqm of commercial space will be re-nachvermietet or, which is an increase of 55% over the previous year and represents a positive indicator of the rental business in 2011. In the first three months of 2011 reached the DIC Asset AG gross rental income of 27.6 million euros (Q1/2010: EUR 31.7 million). The decrease of 13% is mainly due to the reduced portfolio for sales and fund placement. There are also outlets of individual leases that were in the meantime, partially offset. The net rental income were 25.3 million euros, 3.7 million euros below the previous year's result (Q1/2010: EUR 29.0 million). In a recovering rental market could DIC Asset AG, with a strong performance a good start to the year 2011 and increase its rental volume by 55%: 48 300 square meters were derived from the existing properties or to neuvermietet (Q1/2010: 31 200 sq.m). The connection Hire made it from 24 200 sq m (+97%). The new leases were up 24,100 sqm or 28%, well above last year. The pick corresponds to annualized rental income of 4.4 million euros (Q1/2010: EUR 3.3 million). The occupancy rate remains stable at 86%, both relative to the previous quarter (Q4/2010) and the previous quarter (Q1/2010).

DIC Asset AG maintains its recent FFO forecast by year end 40-42 million €.

 

[gionmorg]

Collocamento già chiuso!

Gerresheimer - Update: Books will be closed at 9.45 clock
Orders worth over € 1 billion are present
Or the book for the new bond will be closed in Gerresheimer 9.45 clock. I understand that orders are already worth over € 1 billion before (emission volume: 300 million €).

Of the transaction:

Issuer: Gerresheimer AG
Guarantor: Gerresheimer Glas GmbH, Regensburg Gerresheimer GmbH Gerresheimer Glass Inc. (USA)
Ratings: BBB-, Ba1
Format: Senior unsecured
Volume: 300 million €
Coupon: n.bek.
Guidance: Mid Swap +200 to 210 bp
Duration: 19/05/2018
Covenants: Chance of Control, corss default
Angew. Law: German Law
Listing: Luxembourg
Denomination: 1,000 €
Bookrunner: Commerzbank, German Bank, RBS and UniCredit
ISIN: XS0626028566
Internet: Gerresheimer:Home

 

[gionmorg]

RCI Banque (Renault Bank) issued another floater with a maturity of 18 months
Coupon: 3-month Euribro +75 bp, Issue volume: 165 million €
The RCI Banque (Renault Bank) issued a bond with a variable interest rate (floating rate note), a term of 18 months and a volume of 165 million €. The spread is 75 basis points over the 3-month Euribor. The transaction is accompanied by Bank of America.

Of the transaction:

Issuer: RCI Banque (Renault Bank)
Ratings: Baa2 (posistiv), BBB (Stable)
Volume: 165 million €
Settlement: 10/05/2011
Duration: 12/11/2012
Reoffer: 3-month-Euribro +75 bp
Issue price: 100.00%
Listing: Luxembourg
Denomination: 100,000 €
Documentation: EMTN
Bookrunner: Bank of America
Timing: open books

 

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[Reuters] New Issue-FCE Bank prices 500 mln euro 2015 bond

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[gionmorg]

[Reuters] New Issue-FCE Bank prices 500 mln euro 2015 bond

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Gerresheimer

Issues EUR 300 mn of bonds priced at 195 bps above swaps
Priced to yield c. 5.1% (considering 7-year mid-swap of 3.15%); currently yielding c. 4.9%
Yesterday, Gerresheimer priced its EUR 300 mn bond issue to yield c. 5.1% (coupon of 5% and issue price of 99.4). As indicated in our earlier comment (please see the Morning Views of May 10th), the prospectus is a hybrid between a HY and IG issue. Proceeds from this bond (which was over-subscribed as per company sources) will be used to repay existing bank debt and for general corporate financing purposes. Gerresheimer has a substantially defensive portfolio of businesses and end-customers and the current credit metrics have been very supportive of the pricing on the bond. We expect the company’s metrics to further improve during the course of the year, particularly in H2/11. We are holders of the bonds at these levels, since we do not see any further triggers for movement either way. Following the successful refinancing, we move our assessment to “Low Risk” from “Medium Risk”.