By Serena Ruffoni

Buoyant conditions in European credit markets, with yields and volatility receding, once again resulted in a healthy flow of new bond deals in the market.

Sovereigns, banks and corporates were all in the market borrowing money, while the secondary market was quiet but moderately positive.

Here's a rundown of how the credit default swap market stands, what hit the market today, and what's coming up soon.

CDS:

Europe: 1 BP tighter at 119 BPs

Crossover: 5 BP Tighter at 482 BPs

NEW ISSUES

SOVEREIGNS

Turkish treasury said Tuesday it has mandated Bank of America Merrill Lynch, HSBC and RBS for the reopening of its dollar denominated notes due January 2041.

The Kingdom of Morocco plans a 10-year dollar-denominated benchmark-size bond.

Morocco is rated BBB- by Standard & Poor's and BBB- by Fitch Ratings.

FINANCIALS

Italian bank UniCredit SpA (UCG.MI) is planning to issue a five-year senior unsecured euro bond.

UniCredit is rated Baa2 by Moody's, BBB+ by Standard and Poor's Corp., and A- by Fitch.

CORPORATES

Mining giant Rio Tinto PLC (RIO.LN) is planning a sterling and euro-denominated bond.

The bond will be issued through Rio Tinto Finance PLC and is expected to be rated A3 by Moody's Investors Service and A- by Standard & Poor's.

German retail group Metro AG (MEO.XE) is planning a 500 million euro ($651.7 million) bond, maturing May 2018.

The issuer is rated Baa3 by Moody's Investors Service and BBB- by Standard & Poor's.

German mail services group Deutsche Post AG (DPW.XE) plans a two-part senior unsecured euro bond,

The issuer is rated Baa1 by Moody's and BBB+ BY Standard and Poor's Corp.

 
 

-By Serena Ruffoni (Sarka Halas, Ben Edwards and Yeliz Candemir contributed to this report)

Rio Tinto (NYSE:RIO)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Rio Tinto Charts.
Rio Tinto (NYSE:RIO)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Rio Tinto Charts.