MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ENERGY SECTOR: Harbour Energy Post-Supply Performance

ENERGY SECTOR
BulletCredit Bullets

Baa2/BBB-/BBB-

  • The 5yr/8yr were -2.6bp/-1.3bp vs. their benchmarks as of yesterday’s BVAL snap after they priced with NICs of 13bp last Wednesday compared to the Energy index which was +1.9bp since Wednesday’s close.
  • The existing 4yr/7yr lines were +5.1bp/+7.5bp over the same period (having widened by an additional 6.1bp/6.8bp on the day of supply).
  • David noted recently that HBRLN’s USD 5.5% 26s had not tightened to reflect the new IG rating; the move wider in HBRLN’s EUR curve makes the disparity look less egregious though the USD line is still much wider vs. the EUR curve than it is for peer issuers (lighter colours are USD lines in the below RV chart)
  • Pre-supply thoughts on the name; https://marketnews.com/energy-sector-harbour-energy-notes-from-the-roadshow.

 

 

114 words

To read the full story

Close

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.

Baa2/BBB-/BBB-

  • The 5yr/8yr were -2.6bp/-1.3bp vs. their benchmarks as of yesterday’s BVAL snap after they priced with NICs of 13bp last Wednesday compared to the Energy index which was +1.9bp since Wednesday’s close.
  • The existing 4yr/7yr lines were +5.1bp/+7.5bp over the same period (having widened by an additional 6.1bp/6.8bp on the day of supply).
  • David noted recently that HBRLN’s USD 5.5% 26s had not tightened to reflect the new IG rating; the move wider in HBRLN’s EUR curve makes the disparity look less egregious though the USD line is still much wider vs. the EUR curve than it is for peer issuers (lighter colours are USD lines in the below RV chart)
  • Pre-supply thoughts on the name; https://marketnews.com/energy-sector-harbour-energy-notes-from-the-roadshow.