RE: Standard Bank credit assets
Warwick Langebrink
Hi Hennie, Ive been meaning to plot this chart for some time : Credit spreads against yield curve matched by Duration: (X Axis : Duration is non-linear)
From: Warwick Langebrink [mailto:warw...@acacia.co.za]
Sent: 07 October 2014 12:51 PM
To: 'Hennie...@standardbank.co.za'
Subject: FW: Standard Bank credit assets
Hi Hennie: These are our contact details. Thank you for the update..
warw...@acacia.co.za; nicole...@acacia.co.za; ali...@acacia.co.za
Kind regards
Warwick Langebrink CA(SA), CFA
CEO Acacia
+27 11 268 0530 (SA)
+27 82 610 0444 (mobile)
From: Thomas Cutten [mailto:Tho...@acacia.co.za]
Sent: 07 October 2014 12:13 PM
To: warw...@acacia.co.za; nicole...@acacia.co.za; ali...@acacia.co.za
Subject: FW: Standard Bank credit assets
From: Snyman, Hennie [mailto:Hennie...@standardbank.co.za]
Sent: 30 September 2014 12:32 PM
To: IRD ASSET TEAM
Subject: Standard Bank credit assets
Hi all,
Please see refreshed pricing on various credit assets below. Note that these are listed, and we can issue these as fixed rate or floating rate instruments.
If you would like to trade, or need more information on any of these, please don’t hesitate to contact the desk on 011 415 4054 / 4055 / 4083 / 4053.
Local CLNs
Vanilla ZAR CLNs | ||
Underlying credit | Term | Spread over 3m Jibar |
Anglo American SA Finance | 1y | 0.85% |
Anglo American SA Finance | 1.5y | 1.00% |
Anglo American SA Finance | 2y | 1.20% |
Anglo American SA Finance | 3y | 1.40% |
Anglo American SA Finance | 5y | 1.80% |
Anglo American Platinum | 10 Oct 2016 | 1.45% |
Eskom | 20 Feb 2020 | 185% |
Eskom | 20 Sep 2021 | 2.20% |
Eskom | 20 Sep 2024 | 2.45% |
Inward Listed CLNs
Inward Listed Trigger CLNs - 35% trigger | ||||
Underlying credit | Term | Yield (Jibar+) | Fixed Rate NACS | Spread to Govi |
AngloGold Ashanti | 5y | 3.03% | 10.68% | 3.23% |
Anglo American plc | 5y | 2.56% | 10.21% | 2.76% |
Arcelor Mittal | 5y | 3.80% | 11.45% | 4.00% |
Glencore | 5y | 2.38% | 10.03% | 2.58% |
Louis Drefyus | 5y | 3.98% | 11.62% | 4.18% |
Old Mutual plc SNR | 5y | 1.73% | 9.38% | 1.93% |
Rio Tinto | 5y | 1.79% | 9.44% | 1.99% |
Thyssenkrupp | 5y | 2.97% | 10.62% | 3.17% |
Anglo American plc | 10y | 3.72% | 11.95% | 3.93% |
Transnet | Jul-22 | 2.00% | 10.01% | 2.07% |
Naspers | Jul-17 | 1.18% | 8.34% | 1.30% |
Naspers | Jun-20 | 1.95% | 9.71% | 2.02% |
Eskom | Jan-21 | 3.02% | 10.86% | 3.10% |
Eskom | Aug-23 | 3.62% | 11.75% | 3.73% |
Republic of South Africa | May-19 | 1.66% | 9.24% | 1.75% |
USD CLNs
USD CLN Listed/Unlisted | ||
Underlying credit | Term | Spread over 3m Libor |
Anglo American | 5y | 2.70% |
AngloGold | 5y | 2.90% |
Arcelor Mittal | 5y | 3.00% |
Goldman Sachs | 5y | 2.00% |
Morgan Stanley | 5y | 2.00% |
Fiat | 5y | 3.85% |
Heidelberg Cement | 5y | 2.25% |
Glencore | 5y | 2.55% |
Old Mutual SUB | 5y | 2.30% |
Louis Dreyfus | 5y | 3.35% |
Thyssenkrupp | 5y | 3.05% |
Peugeot | 5y | 3.75% |
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