Čez cuts through curve with lone benchmark bond

Čez‘s 15 year bond was trading tighter on Wednesday morning, after coming inside its own curve on Tuesday. Even with a long tenor the issuer was able to offer its lowest coupon yet for a eurobond.

  • 29 May 2013
But Čez is unlikely to be tempted into the public market again this year despite the buoyant backrop, it told EuroWeek Emerging Markets.

The bookrunners priced the bond at 98bp over mid-swaps with a 3% coupon, after receiving over €2bn in orders from 193 accounts.

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4 Morgan Stanley 4,222.26 24 5.58%
5 BNP Paribas 4,006.52 17 5.30%

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5 ING 1,477.05 5 6.78%

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5 Wells Fargo Securities 1,039.86 9 7.05%

Bookrunners of European Corporate IG Bonds

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1 BNP Paribas 2,459.18 9 10.26%
2 UniCredit 1,892.23 6 7.89%
3 Bank of America Merrill Lynch 1,585.30 5 6.61%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.58%
5 ING 1,477.05 5 6.16%