Free Trial

CONSUMER STAPLES: Barry Callebaut; guidance

CONSUMER STAPLES

(BARY 29s; Baa3/BBB-; Stable)

  • It's performing in secondary, 3Y was a value view, first in consumer/transport primary this year.
  • Not sure why the €29s continue rallying - screens value to roll into the new issues.
  • Please stay alert to updates on Cocoa and spot prices - it is in the driver seat.
    • Front futures; {QC1 Comdty}
    • Dec '25 futures; {QCZ5 Comdty}
  • €900m 3Y priced +150 with 30bp NIC, -23 in secondary
  • €850m 6.5Y priced +200 with 25bp NIC, -20 in secondary

76 words

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.

(BARY 29s; Baa3/BBB-; Stable)

  • It's performing in secondary, 3Y was a value view, first in consumer/transport primary this year.
  • Not sure why the €29s continue rallying - screens value to roll into the new issues.
  • Please stay alert to updates on Cocoa and spot prices - it is in the driver seat.
    • Front futures; {QC1 Comdty}
    • Dec '25 futures; {QCZ5 Comdty}
  • €900m 3Y priced +150 with 30bp NIC, -23 in secondary
  • €850m 6.5Y priced +200 with 25bp NIC, -20 in secondary