EU HEALTHCARE: Becton Dickinson (BDX: Baa2/BBB/BBB): Split confirmed
Feb-06 10:07
- Co Confirmed last night its intention to spin-off the Bioscience & Diagnostics
- New BD will be pure-play MedTech
- New Co will have equivalent of 2024FY $17.8bn revenue (vs $20.2bn now)
- Implies spin-off will be 12% of existing business. This will not trigger any covenants
- Timing: more specifics at end FY25 with completion in FY26
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GILT AUCTION RESULTS: 4.375% Jul-54 Gilt
Jan-07 10:05
| 4.375% Jul-54 Gilt | Previous | |
| Amount | GBP2.25bln | GBP2.25bln |
| Avg yield | 5.198% | 4.747% |
| Bid-to-cover | 2.75x | 3.00x |
| Tail | 0.3bp | 0.4bp |
| Avg price | 87.640 | 94.107 |
| Low price | 87.594 | 94.050 |
| Pre-auction mid | 87.553 | 94.017 |
| Previous date | 03-Dec-24 |
Corrects missing bid-to-cover
EURIBOR: EURIBOR FIX - 07/01/25
Jan-07 10:03
EURIBOR FIX - EMMI/Bloomberg
- EUR001W 2.8800 -0.0180
- EUR001M 2.8400 0.0050
- EUR003M 2.7850 0.0280
- EUR006M 2.6310 0.0460
- EUR012M 2.5560 0.0690
GILT AUCTION RESULTS: 4.375% Jul-54 Gilt
Jan-07 10:03
| 4.375% Jul-54 Gilt | Previous | |
| Amount | GBP2.25bln | GBP2.25bln |
| Avg yield | 5.198% | 4.747% |
| Bid-to-cover | 0.00x | 3.00x |
| Tail | 0.3bp | 0.4bp |
| Avg price | 87.640 | 94.107 |
| Low price | 87.594 | 94.050 |
| Pre-auction mid | 87.553 | 94.017 |
| Previous date | 03-Dec-24 |
