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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.
CONSUMER STAPLES
Haleon (HLN LN), GSK's old consumer healthcare business is selling Chapstick to Suave Brands for c.USD430m cash and a USD80m minority in Suave.
- Haleon’s benchmark ’25 bond (HLNLN 3 1/8 03/24/25) has traded tighter across 4Q23, all the way down from J&J’s comparable towards that of P&G. Concurrently, Haleon’s equity has done very little, only beating UKX by around 3pp over that period.
- A cash sale is, generally, a credit positive event but we note how much tighter the benchmark has traded recently.
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.
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