Nuove_emissioni, collocamenti Nuove Emissioni (10 lettori)

[gionmorg]

Evonik Carbon Black EUR tranche prices to yield 10%; USD at 9.625%
Re-iterate “Hold” on the notes in light of market volatility; fundamentally we continue to believe notes should trade much tighter
Amidst challenging Eurozone markets, the EUR tranche of the ECB 2018 notes issued by Kinove German Bondco GmbH was reduced from the intended EUR 425 mn to EUR 355 mn and also priced wider to the talk. Reversely, the USD tranche was raised from USD 250 mn to USD 350 mn. The fact that the deal did not get pulled back amidst very choppy market conditions (Spotless Group’s intended bond issue was recently postponed), speaks of the credit quality. In ensuing trading the yields did tighten, albeit marginally, to 9.75% on the EUR notes. We continue to believe that current yields do not reflect the fundamental credit story and notes should trade much tighter. However, given the volatile markets we continue to recommend a “Hold” at least until we see some stability. We have a “High Risk” assessment on the LARA scale.

 

[gionmorg]

Amictus / EYEMAXX: capital increase was entered in the commercial register
When Amictus AG capital increase was entered in the commercial register.The company will operate in future as EYEMAXX Real Estate.The company plans to issue a corporate bond in the Entry Standard.

Item of property, are all outstanding shares of capital Eyemaxx International Holding & Consulting GmbH, Vienna.This is the transaction, it is virtually a so-called mantle transaction.As part of the Annual General Meeting on 19.07.2011 Amictus to the change of name in Real Estate AG are EYEMAXX.The Company shall continue to be positioned as a real estate service providers and developers.

The share of Amictus AG is in the General Standard of the German Stock Exchange (WKN A0V9L9).

 

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Katjes International - Road show begins on 27June
Katjes International issued a corporate bond soon.The listing of the Bonds is on the SME market of the Düsseldorf stock provided.The transaction will be accompanied by IKB.On 27June marks the roadshow (in Hamburg branch of IKB).

Katjes International is a sister company of Germany and Katjes combines the international investments / activities Katjes group in a legally independent unit under the same management and ownership structure is essentially the same.With her two interests, "Lamy Lutti" and "Festivaldi" has the International Katjes some of the leading brands for fresh and sugar products in their home markets.Most important contribution is Lamy Lutti (about 106 million euros net sales in 2010) with an over 70-year history and a very strong brand position in its core markets of France (No. 2 brand) and Belgium (market leader in sugar confectionery, from Haribo).Festivaldi is a manufacturer of best selling licorice in Holland on the quantity (Harlekijntjes).

In 2010, the most important contribution Lamy Lutti a turnover of approximately € 106 million with an EBITDA of approximately € 3.6 million.The EBT was negative at -0.2 million euros.

Since starting the International Katjes in 2009, sales (less than 100 million € in 2008) and EBITDA (negative in 2008) of the group are significantly increased.Medium term, the Lamy Lutti be brought back to a standard industry EBITDA margin of approximately 10%.

Future plans to Katjes International growth with focus on Western Europe.As part of this growth strategy, a fully intends to acquire the Lamy Lutti (currently economic participation of 2 / 3).Katjes The International has a right to call the remaining 1 / 3 of shares in Lamy Lutti, which can be exercised exclusively within certain periods in 2011.Basically, the business model differs according to the International Katjes IKB only insignificantly from the sister company Katjes Germany GmbH

In essence, the Lamy Lutti is in the manufacture and production of sugar confectionery (fruit gums, candies and chewing gum), and worked to a lesser extent chocolate products (<20% of sales in 2010).The products of the Lamy Lutti were tested both under his own name and trademarks, as well as under private labels of customers (private label) produced.With their complementary markets have Katjes International and its German sister company a leading position in Western Europe.The confectionery market in France, the main market Katjes International, distinguished himself in the last 15 years by a relatively constant and stable growth.The average sales growth of about 2.4% between 1996 and 2009 should continue like in the coming years.Stable development in recent years of financial and economic crisis.The current lower per capita consumption in France (3.64 kg per person per year) and Belgium (3.14 kg per person per year) kg relative to other developed markets (eg Germany with 5.49 and 5.19 kg UK per capita per year) enables further growth opportunities for Lamy Lutti (data source: CAOBISCO Statistical bulletin, March 2010).

The above information is based on documents which provided the IKB institutional investors.

Katjes Geschäftsenwicklung International



2009

2010

Turnover

103.5

106.5

Gross profit

12.2

16.3

EBITDA

0.4

3.6

EBIT

-2.5

0.8

EBT

-3.8

-0.2

Figures in million €, Source: IKB

 

[gionmorg]

German railway bonds issued with a maturity of 5 years
Emission volume: 500 million €
The German Railways issued a corporate bond with a maturity of 5 years and a volume of 500 million €.The transaction is supported by Banca IMI, BayernLB, DZ Bank and SEB.The amount of the coupon is not yet known.

Of the transaction:

Issuer: German Bahn Finance BV
Guarantor: German Railway AG
Ratings: Aa1, AA, AA (all stable)
Volume: 500 million € (will not be increased)
Running Time: 30/06/2016
Settlement: 30.06.2011
Denomination: € 1000
Listing: Luxembourg
Angew.Law: German Law
Passporting: Germany, Austria, Netherlands
Bookrunner: Banca IMI, BayernLB, DZ Bank and SEB

 

[gionmorg]

Exclusive: SIAG subscription period runs from 27.06.-07.08.2011
Initial Public Offering at the corporate bond on 12/07/2011, S & P rating: B-
The SIAG AG issued a corporate bond (ISIN A1KRAS) in the Entry Standard.The subscription period runs from 27.06.-07.08.2011, the IPO is planned for 12.07.2011.The transaction is accompanied by IKB (Lead Manager) and Steubing (Co-Lead).The issue size is up to 50 million Euros, the term of five Jahre.Die Issuer was loud prospectus by Standard & Poor's (S & P) on 17.06.2011 with a corporate credit rating of "B" rated, the bond with a "CCC +" . SIAG one claims to be the leading manufacturer of steel components for onshore and offshore wind turbines and is planning on tubular steel towers, foundation structures and Umspannwerke.Die SIAG AG for the turnaround this year.So shall the increase in sales of 144 million € (2010) to € 193.2 million.This is an EBIT of EUR 15.0 million is generated (by € 13.1 million).This is clear from documents, which provided the IKB to institutional investors.End of 2010 the equity ratio was 18.0% following covenants are intended. Control AC-Negative Declaration-third delay (more than 1.5 million €)-limit of gross financial debt (limited to 100 million euros, if the capital ratio under 30%)-distribution limit (no distribution to shareholders, if the equity ratio is below 30% - of which one is far away)-restriction of sales (no sale of commercial parts, unless at least 80% of the proceeds remain with the company and not distributed be)

The prospectus may be in the " Securities Prospectuses are available. "

 

[gionmorg]

Maschinenfabrik Spaichingen - Subscription period 29.06.-07.12.2011 Coupon: 7.25%
The Maschinenfabrik GmbH Spaichingen issued a corporate bond (ISIN A1KQZL) in a volume of up to 30 million €. With a term of five years, the company has a coupon of 7.25%. The subscription period runs from 29.06.-12.07.2011. For 15.07.2011 the listing in the Entry Standard is planned for corporate bonds. The transaction is accompanied by the Close Brothers bank. Spaichingen The machine is mainly in the areas of engine technology (share 80.8%) and Welding (17.7%) worked. In the financial field motor technology , the company manufactures mechanical assemblies and components for commercial vehicles and special motors. The product range includes the machining of aluminum die-cast housings, and the processing and assembly of rocker arms, rocker arms, valve bridges, and complete valve train systems. The company has extensive expertise in the machining of thin-walled aluminum camshaft housing and the manufacturing of complete line-arm shafts and deep hole drilling. Among the largest customers in the financial field are Daimler engine technology (Group sales 30.4% share), the Daimler subsidiary Detroit Diesel Corporation (32.1%) and MAN (8.8%). of the transaction: Issuer: Maschinenfabrik GmbH Spaichingen WKN: A1KQZL subscription period: 29.06.-12.07.2011 IPO: 15.07.2011 Duration: until 15.07.2016 Coupon: 7.25% interest payment: yearly rating: BB (by Euler Hermes Rating) segment: entry standard for corporate bond bookrunner: Close Brothers Bank Web: Ein Unternehmen ? viele Erfolge

 

[gionmorg]

ING-Diba-issued mortgage mortgage with a term of 5 years
Volume of 500 million €
ING-Diba emits a mortgage mortgage with a term of 5 years and a volume of 500 million €. The transaction is accompanied by Commerzbank, HSBC, ING and UniCredit. Coupon details are not yet known. of the transaction: Issuer: ING-Diba Rating: Aaa (Moody's) Size: Mortgage Pfandbrief, 100% German prime mortgage volume: € 500 million Coupon: n.bek. Duration : 29/06/2016 Settlement: 06/29/2011 Bookrunner Commerzbank, HSBC, ING and UniCredit Denomination: EUR 100,000 Listing: Frankfurt

 

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MUMBAI: Indian Oil Corp , the country's biggest oil refiner and retailer, has picked BNP Paribas , Royal Bank of Scotland Group Plc and Citigroup to raise $500 million through an offshore issue of bonds, two people familier with the matter said on Wednesday.

The state-run company had told Reuters on Tuesday that it was looking to raise the benchmark size offering in 10-year bonds to fund its Paradip refinery project.

 

[gionmorg]

[Reuters] New Issue-Sulzer prices 500 mln SFR 2016 bond

[SUN.S] June 22 (Reuters) -Following are terms and conditions

of a bond priced on Wednesday.

Borrower Sulzer AG <SUN.S>

Issue Amount 500 million Swiss francs

Maturity Date July 11, 2016

Coupon 2.25 pct

Issue price 100.623

Payment Date July 11, 2011

Lead Manager(s) Credit Suisse & UBS

Listing SIX

Full fees Standard

Governing Law SIX

Negative Pledge Yes

Cross Default Yes

ISIN CH0132469120

For ratings information, double click on <RRS0001>

For all bonds data, double click on <BONDS>

For Top international bonds news [TOP/DBT]

For news about this issuer, double click on the issuer RIC,

where assigned, and hit the newskey (F9 on Reuters terminals)

Data supplied by International Insider.

((EMEA Fixed Income Desk Bangalore; [email protected];

Reuters Messaging [email protected];

+91 80 4135 5666, fax +44 20 7542 5285))

 

[gionmorg]

RCI Banque (Renault Bank) issued another bond with a maturity of 3 years
Guidance: Mid swaps +160 bp
The RCI Banque (Renault Bank) issued a bond with a maturity of three years and a volume of 500 million €. The spread is about 160 basis points over the mid swap. The transaction is accompanied by the BBVA, Bank of America and BNP Paribas.

of the transaction:

Issuer: RCI Banque (Renault Bank)
ratings: Baa2 (posistiv), BBB (stable)
volume: € 500 million
settlement: 6/30/2011
Runtime : 07/07/2014
Guidance: Mid Swap +160 bp
Listing: Luxembourg
Denomination: 100 000 €
Documentation: EMTN
Bookrunner: BBVA, BNP Paribas and Bank of America
Timing: open books Current mid swap rates can be found at:


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