January 15, 2025 12:22 GMT
CONSUMER CYCLICALS: Sixt (car rental) 5Y Guidance
CONSUMER CYCLICALS
(SIXGR unsecured; NR/BBB/NR)
WNG €500m 5Y MS+105 (+/-5) vs. FV +102 (3bp NIC)
- books>€2.2b, -30 in from IPT
- Retail denominations (1k) in line with current 29s. FV is set based on secondary which trade
- -10bps inside equal rated services co's
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