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CREDIT SUPPLY: Carmila (CARDFP: BBB): New issue Long 7yr FV+170

CREDIT SUPPLY
  • FV: We see ms+170
  • IPT: €300m WNG long 7yr (25 Jan 32) Green ms+200a
  • Recent Mercialys 7yr MERYFP 4% 31 came ms+165 but has widened to z+176/173
  • Carmila has twice the market cap of Mercialys and should trade inside.
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  • FV: We see ms+170
  • IPT: €300m WNG long 7yr (25 Jan 32) Green ms+200a
  • Recent Mercialys 7yr MERYFP 4% 31 came ms+165 but has widened to z+176/173
  • Carmila has twice the market cap of Mercialys and should trade inside.