By Serena Ruffoni
Black Friday in the US, and European Union leaders in a deadlock
over the forthcoming EU budget, meant there wasn't much movement in
secondary bond markets and only a few deals in the European primary
bond market Friday.
There is, however, a rare Rosneft bond deal to look forward to
next week.
Here is how the credit default swap market stands and the major
deals hitting the screens Friday:
CDS:
Traxx Europe index: flat at 123/124 bps
iTraxx Crossover index: 5 basis points wider at 509/511 bps
NEW ISSUES
A2A SpA (A2A.MI), Italy's biggest municipal utility by market
value, will price a 2019 bond.
The issuer is rated Baa3 by Moody's and BBB by Standard and
Poor's.
BNP Paribas (BNP.FR) has priced a EUR1.5 billion senior,
unsecured 2014 bond.
The bank is rated A2 by Moody's Investors Service, A+ by
Standard and Poor's Corp. and A+ by Fitch Ratings.
COMING UP:
Italian insurer Assicurazioni Generali SpA (G.MI) is planning to
meet fixed-income investors about a potential subordinated bond
sale, in London from Nov. 26.
A dated subordinated transaction may follow subject to market
conditions.
Russian oil company Rosneft (ROSN.RS) is to hold roadshows next
week to promote a bond sale to partly finance its almost $55
billion TNK-BP buyout.
Roadshows are scheduled to start Monday.
-By Serena Ruffoni -0- (Ben Edwards and Sarka Halas contributed
to this report)