Credit-Default Swap Market
|New Issues||New Issues [Continued]|
1. KBC Ifima NV (NZD) 1.2% 10/3/2022 (08/28/2019): 100MM Senior Preferred Security, Price at Issuance 100.75, Yielding .95%.
2. Total Capital SA (GBP) 1.405% 9/3/2031 (08/28/2019): 400MM Senior Unsecured Notes, Price at Issuance 100, Yielding 1.405%.
OVERALL EUROPEAN CREDIT MARKET:
The euro-zone economy shows signs of negative momentum, weakening credit rating quality, and uncertainty regarding the outcome of Brexit. Closely watched indicators and rates:
- Eurostat's unemployment rate: currently 7.5% (seasonally adjusted, May 2019)
- Eurostat's quarterly GDP: 0.4% (2019 Q1)
- 6-month Euribor: current value -0.427%, as of 08/28/2019
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