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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.
CREDIT SUPPLY
Handelsbanken (SHBASS: A2/A/AA) issuing green senior non-preferred today. We see fair value around MS+85bp area.
- Handelsbanken is issuing EUR benchmark 7yr green senior non-preferred with IPT at MS+110-115bp area. Expected ratings are: A2/A/AA.
- Recent results (17-Jul) were good with a profit (and revenue) beat and solid credit stats, a good return for form after disappointing the market with 1Q24 figures. Spreads have broadly tracked peers since then.
- SHBA and NDA (one notch weaker) trade tight to each other but do note that much of SHBA’s curve is older, low coupon issues. So, we see fair value around MS+85bp area.
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.
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