Free Trial

Verbund (A3/A+): New Issue FV Analysis

CREDIT SUPPLY

• IPT: VERBUND €500M WNG 7Y GREEN MS+95-100

• We see FV at +62a.

• VERAV 0.9 41 is the only outstanding benchmark and trades slightly inside RTEFRA (A).

• We see FV close to STATK (A/A-).

• We expect this bond to price aggressively given scarcity and green format. The 41 was a long-dated deal with limited name recognition, Verbund’s curve may now benefit from having another bond on it.

To read the full story

Close

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.