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FINANCIALS: ABN Amro (ABNANV) - New Issue - £ B'mark 5Y Sr Pref - FV

FINANCIALS
  • IPT: UKT+95 - UKT 0.875% 10/22/29 - Z+105
  • FV: UKT+65 - Z+75 - 1bp wide of NDAFH - which is a higher quality credit. Given how tight RABOBK trades however, we think it can come pretty much flat to NDASS giving investors the chance to get in at mid.
  • Note that RABOBK trade slightly wide of ABNANV in EUR sr pref, although since it is higher rated this should probably not be the case.
  • Exp. Ratings: Aa3/A/A+

 

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  • IPT: UKT+95 - UKT 0.875% 10/22/29 - Z+105
  • FV: UKT+65 - Z+75 - 1bp wide of NDAFH - which is a higher quality credit. Given how tight RABOBK trades however, we think it can come pretty much flat to NDASS giving investors the chance to get in at mid.
  • Note that RABOBK trade slightly wide of ABNANV in EUR sr pref, although since it is higher rated this should probably not be the case.
  • Exp. Ratings: Aa3/A/A+