Primary Credit Wrap

  • Adani Ports Roadshow For 144a/Reg S USD Bonds Starts Tomorrow
    Investor meetings in Asia, Europe, Middle-East, U.S. start tomorrow.
    Issuer: Adani Ports and Special Economic Zone Ltd.
    Expected ratings: Baa3/BBB-/BBB-
    Ecpected issue rating: Baa3/BBB-/BBB-
    JBRs/JLMs: BofAML, Barclays, Citi, Emirates NBD Cap
    JLM: SBI Capital Mkts
  • BPCE to Sell SGD Tier 2 10.5NC5.5 Bonds, IPT 4.5% Area
    Issuer: BPCE SA
    Issuer ratings: A2/A/A
    Expected issue ratings: Baa3/BBB/A-
    Coupon: Fixed until call date and then resets at 5Y fixed rate plus initial margin
    Regulatory call: At par plus accrued interest upon a capital event subject to regulatory approval
    Tax call: At par plus accrued interest upon a tax event (tax
    deductibility, withholding tax) subject to regulatory approval
    PONV: Within the risk factors. Reference to the RRD and the banking bill
    JBRs: Barclays, DBS, Natixis, UOB
  • Soechi Picks DB for USD Bond, Meetings From Tomorrow
    Investor meetings in Singapore June 11, HK June 12 and London June 15.
    Expected rating: B1/–/B+
    Reg S
    BR: DB
    Co-managers: OCBC, Mandiri Sekuritas
  • Haikou Meilan Gets CNH1.4b Orders for CNH600m Bond

Priced at 7.25%, IPT 7.5% area.