Freddie Mac price talk cheapens as book builds slowly

Price talk for Freddie Mac’s Eu5bn three year EuReference Note transaction, which is expected to price on Wednesday, has widened from Libor minus 10bp to minus 9bp, at the same Freddie Mac’s outstanding paper has widened out to minus 9bp. The cheapening has given a fillip to the bookbuilding process, which was not going as well as hoped.

  • 23 Feb 2001
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Interest from Europe and Asia has been described as disappointing, though to an extent offset by US demand.

There is considerable demand for the bonds at 7bp-8bp sub-Libor, but bookrunners BNP Paribas, Lehman Brothers and Merrill Lynch are holding out for Libor less 9bp. Freddie Mac's dollar denominated three year Notes trade 10bp-11bp tighter at Libor less 20bp-21bp.

  • 23 Feb 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 353,377.35 1327 9.07%
2 JPMorgan 316,733.86 1438 8.13%
3 Bank of America Merrill Lynch 316,098.84 1095 8.11%
4 Goldman Sachs 234,493.12 778 6.02%
5 Barclays 226,573.92 880 5.82%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,312.86 161 6.57%
2 Deutsche Bank 34,194.98 116 6.55%
3 Bank of America Merrill Lynch 31,113.25 94 5.96%
4 BNP Paribas 27,479.75 167 5.26%
5 SG Corporate & Investment Banking 23,982.83 136 4.59%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,536.02 78 8.89%
2 Morgan Stanley 16,323.54 83 7.43%
3 Citi 15,750.21 93 7.17%
4 UBS 15,208.47 58 6.92%
5 Goldman Sachs 13,499.48 73 6.15%