February 04, 2025 09:52 GMT
COMMUNICATIONS: British Telecom (BRITEL: Baa2/BBB/BBB): 7yr FV
COMMUNICATIONS
- IPT: €BMK 7yr ms+130-135
- FV: We see ms+95
- BRITEL 3.375 32 has widened +3bps on the announcement to z+96
- Should trade just inside TELEFO but there are some technicalities in that curve.
- The BT curve is well-defined with no anomalies. See Graph.
![BRITEL_FV](https://media.marketnews.com/BRITEL_FV_ef2af60632.png)
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