September 09, 2024 09:19 GMT
CREDIT SUPPLY: Digital Dutch Finco (DLR: Baa2/BBB/BBB): €BMK 9yr
CREDIT SUPPLY
- IPT: €BMK 9yr ms+180-185
- FV: We see ms+155
- DLR's curve consists of low coupon paper issued up to Jan-22.
- If we look at the 10bps of curve between EQIX 1% and EQIX 3.65% that should be a good guide for low coupon vs current coupon paper.
- Based on old secondaries FV would be +145 and then add on 10bps
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