Distribution roundup for the week of November 13-17

By Jon Penner

LONDON, Nov 17 (IFR) - The following is a snapshot of the week of November 13-17's benchmark issues, including placement statistics, book sizes and new issue premiums. SSA Issue: CDP €500m 0.75% Nov 2022 5yr Social Bond at MS+57 / B+111.6 / 99.839 / 0.783% Pricing date: Nov 14 2017 Ratings: Baa2/BBB/BBB/A- Leads: Barc/CA (Frankfurt: A0JC59 - news) -CIB/Citi/HSBC/SG/Uni Pricing steps: MS+high 60s, MS+60/65, MS+57 Book size: >€2.25bn, >150 acs NIP: - Distribution: It 28%, Fr 20%, Ger 19%, Switz 88%, Iberia 7%, Neth 6%, UK 5%, Nordics 3%, Other 4%. FM 49%, Bks 31%, Ins/PF 13%, CB/OI (Sao Paolo: R2:OIBR3S.SA - news) 5%, Other 2%. Issue: BayernLabo €500m 0.625% Nov 2022 5yr Social Bond at MS-14 / B+32.3 / 98.953 / 0.734% Pricing date: Nov 14 2017 Ratings: Aaa/AAA Leads: ABN/BLB (BSE: BLBLIMITED.BO - news) /DZ/Erste/NordLB Pricing steps: MS-9 area, MS-11 area, MS-14 Book size: >€2.1bn, 85 acs NIP: 4bp Distribution: Ger/Aus 58%, Benelux 10%, Scandi 9%, Fr 7%, S.Eur 7%, ME 5%, Other 4%. Bks 35%, AM/FM 30%, CB 16%, Savings (Shenzhen: 300056.SZ - news) /Coops 12%, Insu 7%. Issue: HSH Portfoliomanagement US$500m Nov 2021 4yr FRN at 3mL+33 / 100 Pricing date: Nov 14 2017 Ratings: Aa1/-/AAA Leads: Citi/HSBC/JPM Pricing steps: 3mL+35 area, 3mL+34 area, 3mL+33 Book size: >US$1bn NIP: - Distribution: Ger 38%, Switz 11%, Nordic 10%, RoEur 18%, Offshore US 16%, MENA 7%. CB/OI 63%, Bks 25%, AM 12%. Issue: AfDB €500m 0.25% Nov 2022 5yr Social bond at MS-14 / B+41.4 / 99.282 / 0.354% Pricing date: Nov 14 2017 Ratings: Aaa/AAA/JCR AAA Leads: CA-CIB/GS/HSBC Pricing steps: MS-low teens, MS-12 area, MS-13 area, MS-14 Book size: >€1.55bn, 69 acs NIP: 0bp Distribution: Asia 19.1%, Ger 15.3%, RoEMEA 15.3%, Benelux 15.2%, Nordics 14.8%, Fr 12%, UK 8.3%. CB/OI 50.9%, Bks 22.2%, AM 15.8%, Ins/PF 10.8%, Other 0.3%. Issue: World Bank US$2bn 2.5% Nov 2027 10yr Global at MS+21 / T+19.52 / 99.395 / 2.569% Pricing date: Nov 14 2017 Ratings: Aaa/AAA Leads: Barc/BNPP/Nomura/TD Pricing steps: MS+22 area, MS+21 area, MS+21 Book size: >US$2.4bn NIP: - Distribution: Asia 38%, Eur 34%, Amers 28%. CB/OI 53%, Bks/Corp 24%, AM 23%. CORPORATE Issue: Iberdrola (Amsterdam: ID6.AS - news) €1bn 1.875% Perpetual (May 2023) PNC5.5yr Green hybrid at MS+159.2 / B+212.2 / 100 / 1.875% Pricing date: Nov 14 2017 Ratings: Baa3/BBB-/BBB- Leads: CGs CA-CIB/HSBC, JBs Barc/BBVA (LSE: 931474.L - news) /BNPP/ING/JPM/MUFG/Santan/Uni Pricing steps: 2.25%/2.375%, 2% (+/-12.5), 1.875% Book size: >€3.2bn NIP: - Distribution: UK/Ire 36%, Ger/Aus 20%, Fr 20%, Benelux 10%, Iberia 5%, It 6%, Switz 1%, Other 2%. AM 87%, Ins/PF 10%, HF 1%, Other 2%. Issue: Daimler (Swiss: DAI-EUR.SW - news) €1bn 1% Nov 2027 10yr at MS+25 / B+73.1 / 99.349 / 1.069% Pricing date: Nov 7 2017 Ratings: A2/A/A- Leads: DB/JPM/SG/SEB (LSE: 0MGS.L - news) /Uni Pricing steps: MS+30/35, MS+25 Book size: €1.6bn, >100 acs NIP: 15bp Distribution: Ger 45%, UK/Ire 18%, Fr 14%, Asia 7%, Benelux 6%, Nordics 3%, Other 7%. AM 47%, CB/Agcy 34%, Ins/PF 11%, Bks 5%, Other 3%. Issue: ALD €600m Nov 2020 3yr FRN at 3mE+43 / 100 Pricing date: Nov 16 2017 Ratings: -/BBB Leads: SG Pricing steps: 3mE+low 60s, 3mE+45 (+/-2), 3mE+43 Book size: >€2bn, >100acs NIP: -ve Distribution: Fr 42%, Ger/Aus/Switz 25%, Iberia 17%, UK/Ire 8%, It 4%, Asia 2%, Other 2%. AM 89%, Ins/PF 5%, Bks/PB 4%, CB 2%. Issue: TMCC €600m 0% Jul 2021 long 3yr Green at MS+3 / B+62.2 / 99.81 / 0.052% Pricing date: Nov 14 2017 Ratings: Aa3/AA (Frankfurt: A116XA - news) - Leads: Barc/BNPP/CA-CIB/ING/Uni Pricing steps: MS+15/20, MS+5 (+/-2) , MS+3 Book size: >€2.5bn combined NIP: - Distribution: Ger/Aus 22%, Fr 19%, Benelux 19%, Switz 12%, UK/Ire 8%, Iberia 7%, It 6%, Nordics 2%, Other 6%. FM 60%, Bks 28%, Ins 4%, CB 4%, Other 5%. Issue: TMCC €600m 0.625% Nov 2024 7yr conventional at MS+17 / B+71.6 / 99.727 / 0.665% Pricing date: Nov 14 2017 Ratings: Aa3/AA- Leads: Barc/BNPP/CA-CIB/ING/Uni Pricing steps: MS+25/30, MS+20 (+/-3), MS+17 Book size: >€2.5bn combined NIP: - Distribution: Ger/Aus 33%, Fr 30%, Benelux 23%, UK/Ire 6%, It 3%, Switz 2%, Nordics €2bn, 91 acs NIP: -3bp Distribution: UK 45%, Ger 33%, Fr 9%, It 7%, Neth 3%, Other 3%. AM/HF 95%, PF 4%, Other 1%. Issue: PostNL (Swiss: PN6.SW - news) €400m 1% Nov 2024 7yr at MS+50 / B+104.8 / 99.987 / 1.002% Pricing date: Nov 14 2017 Ratings: -/BBB+ Leads: BNPP/BAML/Rabo Pricing steps: MS+75/80, MS+55/60, MS+50 Book size: >€2.1bn NIP: - Distribution: Ger/Aus 38%, Benelux 25%, Fr 15%, UK/Ire 11%, S.Eur 6%, Switz 3%, Other 2%. AM 60%, Ins/PF 16%, Bks/PB 14%, CB/OI 8%, Other 2%. Issue: Veolia €500m 0% Nov 2020 3yr at MS+5 / B+63.3 / 100.078 / -0.026% Pricing date: Nov 16 2017 Ratings: Baa1/BBB Leads: SG Pricing steps: MS+20 area, MS+5/7, MS+5 Book size: >€1bn, 65 acs NIP: -2bp Distribution: Fr 65%, Ger/Aus 22%, Benelux 3%, UK 3%, S.Eur 3%, Other 4%. AM 73%, OI 15%, Ins/PF 9%, Other 3%. Issue: Buehler SFr240m 0.6% Dec (Shanghai: 600875.SS - news) 2026 9yr at MS+35 / Eidg+70 / 100.746 / 0.515% Pricing date: Nov 15 2017 Ratings: UBS A-/fedafin Baa+ Leads: UBS Pricing steps: MS+35/45, MS+35/37, MS+35 Book size: >SFr240m NIP: - Distribution: Switz 100%. AM 50.8%, PB 28.6%, Ins 14.2%, PF 4.2%, Tsy 2.3%. Issue: Buehler SFr180m 0.1% Dec 2022 5yr at MS+28 / Eidg+58 / 100.237 / 0.053% Pricing date: Nov 15 2017 Ratings: UBS A-/fedafin Baa+ Leads: UBS Pricing steps: MS+28/38, MS+28/30, MS+28 Book size: >>SFr180m NIP: - Distribution: Switz 100%. AM 45.6%, PB 23.3%, Ins 18.1%, PF 9.7%, Tsy 3.3%. Issue: Diageo (Euronext: DGE.NX - news) €775m 0% Nov 2020 3yr at MS+8 / B+65 / 99.979 / 0.007% Pricing date: Nov 13 2017 Ratings: A3/A-/A- Leads: Citi/DB/HSBC/Nomura Pricing steps: MS+25 area, MS+10 (+/-2), MS+8 Book size: >€5.5bn combined NIP: 2bp Distribution: Fr 39%, UK/Ire 21%, Ger/Aus 19%, Nordics 5%, S.Eur 5%, Switz 5%, Benelux 4%, Other 2%. FM 66%, OI 11%, Ins/PF 10%, Bks 5%, Corp 5%, Other 3%. Issue: Diageo €500m 0.5% Jun 2024 long 6yr at MS+18 / B+71.3 / 99.215 / 0.622% Pricing date: Nov 13 2017 Ratings: A3/A-/A- Leads: Citi/DB/HSBC/Nomura Pricing steps: MS+35 area, MS+20 (+/-2), MS+18 Book size: >€5.5bn combined NIP: 6bp Distribution: Ger/Aus 38%, Fr 14%, UK/Ire 14%, Benelux 12%, Nordics 11%, Switz 7%, S.Eur 2%, Other 2%. FM 50%, Ins/PF 18%, OI 15%, Corp 8%, Bks 7%, Other 2%. FINANCIAL Issue: BNP Paribas (LSE: 0HB5.L - news) €1bn 1.5% May 2028 10.5yr SNP at MS+65 / B+116.8 / 99.589 / 1.543% Pricing date: Nov 16 2017 Ratings: Baa1/A-/A+/AH Leads: BNPP Pricing steps: MS+75 area, MS+65/70, MS+65 Book size: €1.6bn NIP: 3bp Distribution: Fr 46%, UK 17%, Asia 11%, Ger/Aus 8%, Benelux 8%, RoEur 9%, Other 1%. AM 52%, Ins/PF 34%, OI 10%, Bks/PB 4%. Issue: RLB Oberoesterreich €500m 0.75% May 2023 5.5yr senior at MS+54 / B+107.3 / 99.61 / 0.823% Pricing date: Nov 14 2017 Ratings: Baa1 Leads: BLB/DB/DZ/Erste/RBI Pricing steps: MS+62 area, MS+57 area, MS+54 Book size: >€875m, 126 acs NIP: - Distribution: Ger 40%, Aus 34%, Fr 6%, It 6%, UK 6%, Sp 3%, Other 5%. Bks 52%, FM 40%, Ins/PF 6%, OI 1%, Other 1%. Issue: Westpac €500m 0.625% Nov 2024 7yr Green senior at MS+27 / B+81.9 / 99.212 / 0.741% Pricing date: Nov 16 2017 Ratings: Aa3/AA- Leads: BAML/BNPP/CA-CIB/WBC (Shenzhen: 200706.SZ - news) Pricing steps: MS+35 area (I), MS+30 area (G), MS+27 Book size: c.€1.25bn NIP: 2.5bp Distribution: Benelux 24%, Ger/Aus 23%, Fr 22%, UK/Ire 21%, Switz 5%, RoEur 3%, Asia 2%. AM 69%, Ins/PF 15%, Bks/FIG 11%, CB/OI 5%. Issue: Sainsbury (Amsterdam: SJ6.AS - news) 's Bank £175m 6% Nov 23 2027 (Nov 2022) 10NC5 T2 at G+524.7 / 100 / 6% Pricing date: Nov 16 2017 Ratings: - Leads: HSBC/MS/UBS Pricing steps: 6.5% area, 6.25% (+/-12.5), 6% Book size: >£700m, 97 acs NIP: - Distribution: UK 90%, Switz 3%, Ger/Fr 3%, Other 4%. FM 89%, Bks/PB 7%, Ins/PF 4%. Issue: St Galler KB SFr100m 1.7% Perpetual (May 2024) PNC6.5 AT1 at MS+176.7 / 100 / 1.701% Pricing date: Nov 16 2017 Ratings: Baa3 Leads: ZKB Pricing steps: 1.625%/1.75%, 1.7% Book size: - NIP: - Distribution: Swiss 100%. Bks/PB 62.5%, AM 29%, PF 6.5%, Ins/Inst 2%. Issue: St Galler KB SFr100m 1% Nov 2027 10yr bullet T2 at MS+70 / 100.451 / 0.953% Pricing date: Nov 16 2017 Ratings: Baa1 Leads: ZKB Pricing steps: MS+70/80, MS+70 Book size: - NIP: - Distribution: Swiss 100%. AM 62%, Bks/PB 22.5%, Ins/Inst 11.5%, PF 4%. Issue: Topdanmark NKr400m Perpetual (Nov 2022) PNC5 RT1 at 3mC+275 / 100 Pricing date: Nov 16 2017 Ratings: - Leads: Danske Pricing steps: 3mC+325 area, 3mC+300 (+/-12.5), 3mC+275/287.5, 3mC+275 Book size: >DKr1.7bn, 44 acs NIP: Inside peers Distribution: Denmark 43%, Sweden 40%, Luxembourg 8%, Finland 5%, Norway 2%, Switz 2%. AM 45%, Ins/PF 33%, PB 22%. COVERED Issue: OP Mortgage bank €1bn 0.05% Feb 2023 long 5yr covered at MS-13 / B+41.4 / 99.733 / 0.101% Pricing date: Nov 15 2017 Ratings: Aaa/AAA Leads: Barc/CA-CIB/OP Pricing steps: MS-9 area, MS-13 Book size: >€1.65bn, 50 acs NIP: 0 Distribution: Nordics 30%, Ger/Aus 29%, Benelux 20%, Asia 8%, UK 7%, Fr 6%. CB/OI 57%, Bks 30%, FM 8%, Ins 3%, Corp 2%. Issue: Achmea Bank €500m 0.375% Nov 2024 7yr CPT covered at MS-6 / B+48.9 / 99.731 / 0.414% Pricing date: Nov 16 2017 Ratings: Aaa/-/AAA Leads: ABN/Citi/Rabo/SG/Uni Pricing steps: MS-2 area, MS-4 area, MS-6 Book size: >€1.1bn, >60 acs NIP: - Distribution: Benelux 43%, Ger/Aus/Switz 38%, Nordics 7%, Fr 5%, Asia 4%, S.Eur 3%. CB/OI 37%, Bks/PB 32%, AM 19%, Ins/Corp 12%. Issue: Danske Bank (LSE: 0NVC.L - news) €500m 0.75% Nov 2027 10yr covered at MS-5 / B+41.6 / 99.292 / 0.824% Pricing date: Nov 14 2017 Ratings: -/AAA/AAA Leads: ABN/Danske/Natx/NatWest/Uni Pricing steps: MS-1 area, MS-4 (+/-1), MS-5 Book size: >€1.2bn, >69 acs NIP: 0bp Distribution: Ger/Aus 53%, Fr 11%, Asia 10%, UK/Ire 5%, Switz 5%, It 5%, Benelux 2%, ME 5%, Other 4%. AM 38%, Bks 42%, CB/Agcy 13%, Other 7%. Issue: Aegon (Swiss: AGN.SW - news) €500m 0.375% Nov 2024 7yr CPT covered at MS-6 / B+48.9 / 99.546 / 0.441% Pricing date: Nov 14 2017 Ratings: -/AAA/AAA Leads: Barc/BNPP/CA-CIB/Rabo/SG Pricing steps: MS-2 area, MS-5 (+/-1), MS-6 Book size: c.€1.25bn NIP: -1bp Distribution: Benelux 43%, Ger/Aus 31%, S.Eur 8%, Asia 7%, UK 5%, Nordics 3%, Switz 2%, Fr 1%. CB/OI 41%, AM 34%, Bks/PB 20%, Ins/PF 5%. Issue: DBS €500m 0.375% Nov 2024 7yr covered at MS-1 / B+54.2 / 99.204 / 0.491% Pricing date: Nov 14 2017 Ratings: Aaa/-/AAA Leads: DBS (SES: 2N8B.SI - news) /Barc/JPM/SG/Uni Pricing steps: MS+3 area, MS flat/-1, MS-1 Book size: €700m, 38 acs NIP: - Distribution: Ger/Aus 60%, UK 14%, Scandi 10%, Benelux 6%, Switz 5%, Fr 3%, Asia/Other 2%. FM 43%, CB/OI 22%, Bks 17%, Corp 10%, PB/Other 8%. Issue: Valiant Bank SFr250m 0.375% Dec 2027 10yr debut covered at MS+8 / Eidg+43 / 100.442 / 0.33% Pricing date: Nov 15 2017 Ratings: Aaa Leads: BNPP/ZKB Pricing steps: MS+9/12, MS+8/10, MS+8 Book size: >SFr250m NIP: 7bp (vs PSHypo/PfZ) Distribution: Switz 100%. Ins/Inst 35%, AM 32%, PB 27%, PF 6%. EMERGING Issue: KTZ US$780m 4.85% Nov 2027 at 10yr MS+241.8 / T+240.3 / 100.393 / 4.8% Pricing date: Nov 13 2017 Ratings: Baa3/BB-/BBB- Leads: JPM/RenCap/Halyk/MUFG Pricing steps: 5% area, 4.8% Book size: >US$1.8bn NIP: - Distribution: USA 45%, UK 33%, Benelux/Scandi 10%, Ger/Aus 5%, Kazakhstan 4%, Other 3%. AM/FM 96%, Ins/PF 4%. Issue: China Jianyin Investment US$400m 3.5% Nov 2027 10yr at T+125 / 99.1 / 3.608% Pricing date: Nov 16 2017 Ratings: A2/A/A+ Leads: BoC/Barc/Cinda Intl/HSBC/BAML/BoCom/CEB HK/CMBC (Shanghai: 600016.SS - news) /CNCBI/CCBA/CITIC (Dusseldorf: CPF.DU - news) -CLSA/GS/ICBCI/Natx/UBS Pricing steps: T+145 area, T+125 Book size: US$700m NIP: - Distribution: Asia 79%, EMEA 21%. FM 48%, Bks 41%, Ins/SWF 7%, PB 4%. Issue: China Jianyin Investment US$500m 3% Nov 2022 5yr at T+97.5 / 99.807 / 3.042% Pricing date: Nov 16 2017 Ratings: A2/A/A+ Leads: BoC/Barc/Cinda Intl/HSBC/BAML/BoCom/CEB HK/CMBC/CNCBI/CCBA/CITIC-CLSA/GS/ICBCI/Natx/UBS Pricing steps: T+125 area, T+97.5 Book size: US$900m NIP: - Distribution: Asia 94%, EMEA 6%. Bks 63%, FM 27%, Ins 9%, PB 1%. Issue: Wing Lung Bank Tier 2 US$400m 3.75% Nov 22 2027 (Nov 22 2022) 10NC5 at T+175 / 99.851 / 3.783% Pricing date: Nov 15 2017 Ratings: Baa2 Leads: BAML/Citi/CMBI/Wing Lung/Everbright Bk/CMSHK Pricing steps: T+200 area, T+175 Book size: US$1.2bn NIP: - Distribution: Asia 82%, Offshore US 14%, Eur 4%. AM/FM 74%, Bks 16%, PB 9%, Ins 1%. Issue: DBS €500m 0.375% Nov 2024 7yr covered at MS-1 / B+54.2 / 99.204 / 0.491% Pricing date: Nov 14 2017 Ratings: Aaa/-/AAA Leads: DBS/Barc/JPM/SG/Uni Pricing steps: MS+3 area, MS flat/-1, MS-1 Book size: €700m, 38 acs NIP: - Distribution: Ger/Aus 60%, UK 14%, Scandi 10%, Benelux 6%, Switz 5%, Fr 3%, Asia/Other 2%. FM 43%, CB/OI 22%, Bks 17%, Corp 10%, PB/Other 8%. Issue: WTT Investment US$670m 5.5% Nov 21 2022 (Nov 21 2020) 5NC3 at 100 / 5.5% Pricing date: Nov 14 2017 Ratings: B1/-/BB- Leads: Citi/HSBC/StCh/Huatai/Nomura Pricing steps: 5.875% area, 5.5% Book size: US$3.3bn NIP: - Distribution: Asia 76%, EMEA 13%, US 11%. FM/AM 88%, Bks/PB 8%, Ins/Other 4%. Issue: China South City US$300m 7.25% Nov 2022 5yr at 97.96 / 7.75% Pricing date: Nov 13 2017 Ratings: -/B-/B Leads: UBS (LSE: 0QNR.L - news) /CS/HSBC/Guotai Junan/AMTD/Haitong/CMSHK Pricing steps: 7.875% area, 7.625%/7.75%, 7.75% Book size: US$750m NIP: - Distribution: Asia 99%, EMEA 1%. PB 59%, Bks 33%, AM 8%. Issue: Wuhan Dangdai US$300m 7.25% Nov 2020 3yr at 100 / 7.25% Pricing date: Nov 13 2017 Ratings: Unrated Leads: CITIC-CLSA/UBS/Haitong/Industrial/SPDBI/CNCBI/BOCI/Wing Lung Bank/BOCOMI/Everbright Bk/Silk Road/CMBC Capital Pricing steps: 7.375% area, 7.25% Book size: US$800m NIP: - Distribution: Asia 99%, Eur 1%. Bks 58%, FM 29%, PB 13%. (Reporting by Jon Penner, IFR Markets)