November 19, 2024 15:27 GMT
CREDIT MACRO: Macro's pull in primary
CREDIT MACRO
- Identical deals (B&M 7NC3) on identical ratings, 1yr apart.
- Yet to price today, talk at 6.5% vs. FV 6.45%
Nov-23 | Nov-24 | Differnce (bps) | |
7y Gilt | 4.1% | 4.35% | 25 |
7y Swap | 4.1% | 4.0% | -10 |
£IG | +165 | +140 | -25 |
£IG/HY | +440 | +260 | -180 |
PRICED* | 8.125% | 6.50% | -163 |
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