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Rating: BBB+
Amount: Eu400m
Maturity: November 4, 2014
Issue/re-offer price: 99.837
Coupon: 4.875%
Spread at re-offer: 86bp over mid-swaps
Launched: Wednesday October 13
Joint books: Royal Bank of Scotland, SG
Bookrunners' comments:
RBS , We went out with the deal first thing on Tuesday and held a conference call on Wednesday morning.
It was a quick marketing process; the company did a seven year deal in January earlier this year, which it tapped in June.
RBS looked at the credit and went out to investors with information along with the company presentation on Wednesday.
There was a good turnout on the call with 30-plus investors and the book built strongly. Wendel is an interesting credit; the company invests mainly in private companies and it has...