LNG: Egypt Seeking More Spot Cargoes After Recent Deals

*Now including TOE/FTT/and HR

• Size set earlier: E1bln (MNI expected E1.0-1.5bln)
• Spread set earlier at MS+128bp (Guidance was MS+140bps area then MS+135bps area)
• Reoffer price 99.10 to yield 3.548%
• Books above E2.1bln (inc E410mln JLM interest)
• Maturity Date: 14 April 2055
• Coupon: 3.5%, annual, act/act, long first
• HR: 93% vs 2.50% Aug-54 Bund
• Settlement Date: 14 January 2025 (T+5)
• Joint Bookrunners: Deutsche Bank, Erste Group, Goldman Sachs Bank Europe SE, HSBC, J.P. Morgan (B&D) and OTP Banka Slovenia
• ISIN: SI0002104873
• TOE: 15:05 UKT / 16:05 CET
• FTT: 15:20 UKT / 16:20 CET

Details as per Bloomberg and Market Source

• Returning to the JOLTS report, hiring details were also on the soft side, chiming more with the resumed downtrend for quits rates than the stronger than expected job openings.
• The hires rate fell to 3.31% in Nov from 3.39% in Oct and 3.51% in Sept, drawing level with the 3.31% in June that marked the lowest since Apr 2020 and before that late 2013. 

The DMO has announced it will be looking to sell GBP1bln of the 1.25% Nov-54 linker (ISIN: GB00BPSNBG80) at its auction next Tuesday, January 14.