Nuove_emissioni, collocamenti Nuove Emissioni (4 lettori)
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Verizon
New Issue Alert
Deal details:
Issuer: Verizon Communications Inc.
Ticker: VZ
Expected Ratings: Baa1/BBB+/A- (all stable)
Format: SEC Registered Senior Unsecured Notes
Size: Benchmark
Maturities: 3 year fixed and floating (Sep 15, 2016)
5 year fixed and floating (Sep 14, 2018)
7 year fixed (Sep 15, 2020)
10 year fixed (Sep 15, 2023)
20 year fixed (Sep 15, 2033)
30 year fixed (Sep 15, 2043)
Use of Proceeds: Together with proceeds under the Credit Agreement, other indebtedness and available cash, to finance the Acquisition (acquisition of Vodafone’s 45% indirect ownership interest in Cellco Partnership d/b/a/Verizon Wireless), including the payment of related fees and expenses
Special Mandatory Redemption: If VZ does not complete the Acquisition on or prior to September 2, 2014 or the Acquisition Agreement is terminated on or at any time prior to such date, VZ will redeem all the notes on the special mandatory redemption date at the special mandatory redemption price equal to 101% of the aggregate principal amount of each series of such notes, plus accrued and unpaid interest from the date of initial issuance (or the most recent interest payment date on which interest was paid) to, but not including, the special mandatory redemption date (see Red Herring for more details).
Optional Redemption: Make Whole Calls Active
Bookrunners: Barclays, BofA Merrill Lynch, JP Morgan, Morgan Stanley
Passive Bookrunners: Citi, CS, MIZ, MUS, RBC, RBS, WFC
Co-Managers: DB, Santander
Marketing: www.netroadshow.com, passcode: Network63 (not case sensitive); Investor calls already set up for Monday and Tuesday
Timing: Books close Tuesday afternoon, Launch and Price Wednesday
Min Denoms: $2k x 1k
Settlement: T+5
Price whisper:
3yr T+165 (+LIBOR eq)
Fixed rate tranche: indicative yield around 2.50%
Floating rate tranche: 3mth LIBOR + 148 bps area
5yr T+190 (+LIBOR eq)
Fixed rate tranche : indicative yield around 3.62%
Floating rate tranche: 3mth LIBOR + 175 bps area
7yr T+215 – indicative yield around 4.51%
10yrT+225 – indicative yield around 5.17%
20yrT+250 – indicative yield around 6.39%
30yrT+265 – indicative yield around 6.51%
New Issue Alert
Deal details:
Issuer: Verizon Communications Inc.
Ticker: VZ
Expected Ratings: Baa1/BBB+/A- (all stable)
Format: SEC Registered Senior Unsecured Notes
Size: Benchmark
Maturities: 3 year fixed and floating (Sep 15, 2016)
5 year fixed and floating (Sep 14, 2018)
7 year fixed (Sep 15, 2020)
10 year fixed (Sep 15, 2023)
20 year fixed (Sep 15, 2033)
30 year fixed (Sep 15, 2043)
Use of Proceeds: Together with proceeds under the Credit Agreement, other indebtedness and available cash, to finance the Acquisition (acquisition of Vodafone’s 45% indirect ownership interest in Cellco Partnership d/b/a/Verizon Wireless), including the payment of related fees and expenses
Special Mandatory Redemption: If VZ does not complete the Acquisition on or prior to September 2, 2014 or the Acquisition Agreement is terminated on or at any time prior to such date, VZ will redeem all the notes on the special mandatory redemption date at the special mandatory redemption price equal to 101% of the aggregate principal amount of each series of such notes, plus accrued and unpaid interest from the date of initial issuance (or the most recent interest payment date on which interest was paid) to, but not including, the special mandatory redemption date (see Red Herring for more details).
Optional Redemption: Make Whole Calls Active
Bookrunners: Barclays, BofA Merrill Lynch, JP Morgan, Morgan Stanley
Passive Bookrunners: Citi, CS, MIZ, MUS, RBC, RBS, WFC
Co-Managers: DB, Santander
Marketing: www.netroadshow.com, passcode: Network63 (not case sensitive); Investor calls already set up for Monday and Tuesday
Timing: Books close Tuesday afternoon, Launch and Price Wednesday
Min Denoms: $2k x 1k
Settlement: T+5
Price whisper:
3yr T+165 (+LIBOR eq)
Fixed rate tranche: indicative yield around 2.50%
Floating rate tranche: 3mth LIBOR + 148 bps area
5yr T+190 (+LIBOR eq)
Fixed rate tranche : indicative yield around 3.62%
Floating rate tranche: 3mth LIBOR + 175 bps area
7yr T+215 – indicative yield around 4.51%
10yrT+225 – indicative yield around 5.17%
20yrT+250 – indicative yield around 6.39%
30yrT+265 – indicative yield around 6.51%
Kfw brl
New Issue Alert
Deal details:
Issuer : KFW - explicit German Guarantee
Ratings : Aaa | AAA | AAA
Format : Bearer. Reg. S (not eligible for sale into US)
Size : BRL [100]mm
Maturity : 15 December 2016
Coupon : 9.50% annual, ACT/ACT (ICMA)
Settlement : 1 October 2013; long first coupon
Guidance : [9.60]% annual yield
Denominations : BRL 5k+5k
Law/Listing : English | Luxembourg
Settlement : Coupon & Redemption paid in EUR
Dealer : JP Morgan (sole)
ISIN : [to be advised]
Timing : Today's business, pricing London 2.30pm
Price guidance:
Yield around 9.6%
Comparables:
Issuer Coupon Maturity Rating Offer Price Yield
IADB 5.25 07/16 Aaa 99.77 9.08
SEK 6.5 09/16 Aa1 92.99 9.28
IFC 6 12/16 Aaa 91.12 9.29
New Issue Alert
Deal details:
Issuer : KFW - explicit German Guarantee
Ratings : Aaa | AAA | AAA
Format : Bearer. Reg. S (not eligible for sale into US)
Size : BRL [100]mm
Maturity : 15 December 2016
Coupon : 9.50% annual, ACT/ACT (ICMA)
Settlement : 1 October 2013; long first coupon
Guidance : [9.60]% annual yield
Denominations : BRL 5k+5k
Law/Listing : English | Luxembourg
Settlement : Coupon & Redemption paid in EUR
Dealer : JP Morgan (sole)
ISIN : [to be advised]
Timing : Today's business, pricing London 2.30pm
Price guidance:
Yield around 9.6%
Comparables:
Issuer Coupon Maturity Rating Offer Price Yield
IADB 5.25 07/16 Aaa 99.77 9.08
SEK 6.5 09/16 Aa1 92.99 9.28
IFC 6 12/16 Aaa 91.12 9.29
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