January 15, 2025 10:56 GMT
CONSUMER CYCLICALS: Sixt (car rental) 5Y FV (x2)
CONSUMER CYCLICALS
(SIXGR unsecured; NR/BBB/NR)
WNG €500m 5Y MS+135a vs. FV +102 (-33)
- Retail denominations (1k) in line with current 29s. FV is set based on secondary which trades -10bps inside equal rated services co's#
- looks like net supply/not refi
- Rentokil low cash px lines removed (bid in on CoC hopes)
Keep reading...Show less
46 words