Free Trial

Boels New Issue (Ba3/BB)

CREDIT SUPPLY

• IPT: Boels EU500m 6NC2 Sr Sec 6% Area.

• After a quick look at the roadshow, looks like this should trade well wide to recent DUFNSW.

• 1 notch worse, less attractive business profile, higher leverage. NC2 structure is less favourable to investors.

• 50-75bps wider feels like a ballpark idea.

• That would put valuation around the 5% area.

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.