Free Trial

AXA FV (EUR Benchmark 10Y Fixed; A1/A+)

CREDIT SUPPLY
  • IPT given at MS+90a – looks slightly tight to us; we see FV around MS+60-65a
  • Noting the low cash prices on the longer ends of the Allianz and AXA Home Loan curves whereas the AXA SA curve trades close to par.
  • AXAlast brought a SUN to market in January 2023 for a EUR 750mn 10y deal that tightened 27.5bps from IPT to price at MS+75bops with a cover of 2.8x.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.