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Issuers
US retailer sets sights on credit market
Tuesday, January 10, 2012
US retailer Target priced a two tranche note offering worth $2.5 billion yesterday evening, in one of the biggest of a spate of US high grade corporate bond issues in the first weeks of the year.
The $1 billion tranche carries a coupon of 2.9% and matures in 2022, while the one-year $1.5 billion tranche carries a floating rate of just three basis points above threemonth LIBOR.
Citigroup, Morgan Stanley, Bank of America, Barclays Capital and Goldman Sachs are joint arrangers for the bond deal.
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CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
