September 03, 2024 07:45 GMT
CREDIT SUPPLY: Mercialys (MERYFP: BBB): €300m 7yr FV +175-180
CREDIT SUPPLY
- Unibail and Klepierre have well developed curves with 4.5yr ->7yr at +30bps
- Mercialys 4.5yr is z+144 +30bps gives +174. In a weaker market, investors would ask for some extra steepness for wide names but NICs are low currently.
UOP is to take out the July 27s, so net issuance is low at just 100m
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