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FINANCIALS: Belfius Bank - New Issue - 6.25Y SNP - IPT MS+140

FINANCIALS
  • We estimate FV to be MS+110. This continues the existing curve, but also notes the curve shape of the slightly higher rated KBCBB which does have longer maturity bonds (although their curve is split into bullets and NC's which would make the chart difficult to read while including them)
  • Expected Ratings A3/BBB+

 

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  • We estimate FV to be MS+110. This continues the existing curve, but also notes the curve shape of the slightly higher rated KBCBB which does have longer maturity bonds (although their curve is split into bullets and NC's which would make the chart difficult to read while including them)
  • Expected Ratings A3/BBB+