Free Trial

Financials Primary Updates: BNS, NYLIFE, JPM

CREDIT SUPPLY

A range of financials primary updates:

  • Scotiabank (BNS: A2/A-/AA-) EUR benchmark 3yr FRN final spread: 3mE+53bp. IPT was 3mE+75bp, books above EUR1.1bn (ex-JLMs).
  • New York Life (NYLIFE: Aaa/AA+/AAA) EUR500m 10yr FA-backed final spread: MS+85bp. IPT was MS+105-110bp, books above EUR1bn (incl. JPMs).
  • JP Morgan (JPM: A1/A-/AA-) two-tranche and/or issue. EUR benchmark 4NC3 senior unsecured guidance is MS+55-60bp (will price in range). IPT MS+80-85bp area, books above EUR2.8bn. Also, EUR500m 4NC3 FRN with 3mE+ margin equivalent to the above fixed rate – this is an “and/or” deal structure.
84 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.

A range of financials primary updates:

  • Scotiabank (BNS: A2/A-/AA-) EUR benchmark 3yr FRN final spread: 3mE+53bp. IPT was 3mE+75bp, books above EUR1.1bn (ex-JLMs).
  • New York Life (NYLIFE: Aaa/AA+/AAA) EUR500m 10yr FA-backed final spread: MS+85bp. IPT was MS+105-110bp, books above EUR1bn (incl. JPMs).
  • JP Morgan (JPM: A1/A-/AA-) two-tranche and/or issue. EUR benchmark 4NC3 senior unsecured guidance is MS+55-60bp (will price in range). IPT MS+80-85bp area, books above EUR2.8bn. Also, EUR500m 4NC3 FRN with 3mE+ margin equivalent to the above fixed rate – this is an “and/or” deal structure.