May 29, 2024 07:23 GMT
International Distribution Services (IDSLN; NR/BBB Neg/NR)
CONSUMER CYCLICALS
Screen cheap on the Sept 28s at Z+152/B+194/4.6% (BVAL offer side)
- As above, 26s should come out now with chance of HY ratings & linked CoC/put at par going away - a shame value was skewed to upside on this line (5pts to 1pt we quoted yesterday on upside/downside).
- As an aside targeting IG ratings leaves 28s screening value - we add a screen cheap on it
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