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Louis Dreyfus (LOUDRE; NR/BBB+) 7Y FINAL

CONSUMER STAPLES

(owned by the Dreyfus's; 4th Generation)
€650m 7Y FINAL MS+125 vs. FV +100 (25bp NIC)

  • -35 in from IPT, books>€2.8b, upsized from exp. €500m
  • Perhaps it would have had better pricing in $s where all of its peers trade (widest swapping back to +90 on near equal ratings - BBB+ CW pos).

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(owned by the Dreyfus's; 4th Generation)
€650m 7Y FINAL MS+125 vs. FV +100 (25bp NIC)

  • -35 in from IPT, books>€2.8b, upsized from exp. €500m
  • Perhaps it would have had better pricing in $s where all of its peers trade (widest swapping back to +90 on near equal ratings - BBB+ CW pos).