April 26, 2024 11:57 GMT
Danone (BNFP; Baa1, BBB+; S) {BN FP Equity}
CONSUMER STAPLES
Benchmark 6Y IPT at +90 vs. FV of +58.
* Pricing taking its time & in the meantime secondary has moved +2-6bps wider - sizeable moves for high-grade issuer bringing a single-line.* As mentioned above, secondary did screen tad rich against brewer curves like Carlsberg (CARLB) & Danone is a likely to revisit primary again in near future.
* Size left open on IPT - largest lines are €2b - though both '26 maturities.
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