Comment & Analysis

Monday October 19, 03:49 PM
EURO BONDS-SBAB, Barclays,Kommunalbanken, Eurohypo

LONDON, Oct 19 (Reuters) - News, details on bond issues in the European markets on Monday:

SWEDISH HOUSING FINANCE CORP

Issue: SBAB plans a 600 million euro 2-year senior floating-rate note, with

change of control language if government ownership falls below 51 percent, as reported by IFR Markets, a Thomson Reuters (LSE: RUT.L - news) online news and market analysis service.

Guidance: refined to three-month Euribor plus 50 basis points from plus 50-55 basis points.

Managing banks: Danske Bank (Copenhagen: DANSKE.CO - news) , Deutsche Bank (Xetra: 514000 - news) and UBS

Rating: Moody's A1, S&P A+

BARCLAYS (LSE: BARC.L - news)

Issue: The UK bank plans a 2 billion euro bond due January 2013, as reported by IFR Markets, IFR reported.

Guidance: 3-month Euribor plus 82 basis points

Managing banks: Barclays

Rating: Moody's Aa3, S&P AA-, Fitch AA-

KOMMUNALBANKEN

Issue: Norwegian agency plans 5-year dollar-denominated benchmark eurobond, as reported by IFR.

Managing banks: Bank of America Merrill Lynch, JP Morgan, Morgan Stanley (NYSE: MS - news) and Royal Bank of Scotland (LSE: RBS.L - news) .

Guidance: mid-swaps plus 25 to 30 basis points.

Rating: Moody's Aaa (Xetra: 722800 - news) , S&P AAA

EUROHYPO (PART OF COMMERZBANK

Issue: German mortgage bank plans a 1 billion euro Jan. 2015 mortgage-backed covered bond, as reported by IFR.

Managing banks: Barclays BNP Paribas, Commerzbank (Xetra: 803200 - news) , Deutsche Bank, NordLB.

Guidance: mid-swaps plus 25 basis points, as reported by IFR

Ratings: Moody's Aaa, S&P AAA

YORKSHIRE BUILDING SOCIETY

Issue: UK mortgage lender plans a 3-year 750 million euro UK government-guaranteed bond issue, as reported by IFR.

Final guidance: mid-swaps plus 10 basis points.

Managing banks: Commerzbank, Credit Suisse, JP Morgan and Societe Generale (GLE.NX - news)

SNS BANK

Issue: Debut Dutch covered bond, as reported by IFR.

Managing banks: Barclays, LBBW and Royal Bank of Scotland

NOBLE GROUP (N21.SI - news)

Issue: Plans a 10-year global dollar-denominated bond.

A roadshow schedule is being prepared, according to IFR.

Managing banks: Goldman Sachs (NYSE: GS - news) , HSBC (LSE: HSBA.L - news) , JPMorgan and Royal Bank of Scotland.

(London Corporate Finance: +44 207 542 8389)

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