Gap Launches 10 Year Investment Grade Corporate Bonds
IFR
New York
April 7 - - rarely issuing bonds
Fashion dealer
Gap launched 10 years
Senior debt
So far this week, new corporate bonds.
Offering scale
It's 10 billion 300 million dollars.
Gap's corporate bonds are likely to be favored by investors, because Gap has no investment grade bonds, and its products are scarce.
Bank of America, Merrill Lynch, Goldman Sachs and J.P. Morgan are joint bookkeeping banks, Gap's senior debt.
Grade
It's Baa3/BB+/BBB.
Capital gains will be used for general purposes.
In addition, MassMutualGlobalFundingII is released 2 today.
75 year floating rate bonds and five year fixed rate bonds.
The price of rumors is 87 basis points higher than that of Libor, which is 40 basis points higher and higher than bonds.
Three other Yankee bonds are on sale today.
Australia's Telstra Corp issues a 10 year bond rated A2/A/A.
The funds raised are used to refinance debt.
DanskeBankA/S sells three year floating interest rate and five fixed rate debt.
The price guidelines are 165 basis points higher than Libor's 105 base points and higher government bonds.
Funds are used for the general purpose of the bank.
Pohang steel launched a 10 year first unsecured debt.
The price guideline is 175 basis points higher than the US Treasury bond yield by 180 basis points. The initial rumor was originally 185 basis points.
Barclays Capital, Paris Bank of France, Deutsche Bank and Goldman Sachs are joint bookkeeping firms.
The company is on roadshow in Hongkong next week, heading for New York next week.
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