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Amcor (Baa2/BBB): New Issue FV Analysis

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Late to print on this one unfortunately, but posting for the record


  • FINAL TERMS: Amcor EU500m 8Y MS+128.
  • We see FV at MS+115a.
  • We peg this ~5/15 wide to LYB (Baa2/BBB/BBB) / JCI (Baa2/BBB+). That is also broadly consistent with RV in $.

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