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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 CYCLICALS
exp. €300m 5Y SLB FINAL MS+125 vs. FV +120 (5bp NIC)
- books>€1.3b, -35 in from IPT
- may show some value for those excluded from Tobacco
Securitas has held well in secondary. We hear Prosegur's 29s actually do trade - which only adds to our confusion. We see FV on that line +20-25bps north of current mids. Its unch today despite rotation into above screening significant value. On Loomis standalone - as we said at guidance it may screen value but not a firm view of ours - at least yet - one we will be watching closely in secondary.
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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