September 23, 2024 11:27 GMT
CREDIT SUPPLY: Knorr-Bremse (KNOGR A3/A-/NR): Guidance
CREDIT SUPPLY
- Guidance: €600m 5Y MS+90 (+/- 2) vs. FV +90a
- Guidance: €500m 8Y Green MS+110 (+/-2) vs. FV +112a
- both -30 in from IPT, books>€2.2b on 5Y and deal upsized from exp. €500m, 8Y books >€2b
- Our FV is ~10bp wide to RBOSGR (NR/A/A). Note we don’t assume any greenium.
- See our credit profile here: https://marketnews.com/capital-goods-knorr-bremse-knogr-a3-a-nr-credit-profile
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