AMERICAS OIL: Permian Basin Nat Gas Production Falls an Estimated 4%: BNEF

• Destatis has corrected its calculation for German HICP to 2.8%Y/Y (from yesterday's release of 2.9%Y/Y).
• Note that although this correction is being issued now, it appears as though the Eurostat statistics may have been produced using the correct number (at least we have looked back on a press release from earlier today when Eurostat released EZ HICP which had the German HICP release printed at 2.8%Y/Y in it).
• The full update from Destatis is available here.

• Size: E1bln (MNI expected E1.0-1.5bln)
• Spread set earlier at MS+128bp (Guidance was MS+140bps area then MS+135bps area)
• Books in excess of E2.1bln (inc E410mln JLM interest)
• Maturity Date: 14 April 2055
• 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
• Timing: Allocations and pricing shortly

From market source

AFP reports that former far-right leader Jean-Marie Le Pen has died aged 96. Le Pen co-founded the Front National in 1972, with the party's rise under Jean-Marie Le Pen culminating in his shock appearance in the 2002 presidential election run-off against incumbent Jacques Chirac.

• His daughter Marine Le Pen assumed the party leadership in 2012, and has since sought to present a more electable face of the far-right. Jean-Marie Le Pen was defeated by a margin of 82% to 18% in 2002, compared to margins of 66%-34% and 59%-41% in 2017 and 2022 respectively for Marine Le Pen.
• Jean-Marie was expelled from the Front National in 2015 amid a feud with Marine as she attempted to 'detoxify' the party's brand (the party was renamed Rassemblement National in 2018), making Jean-Marie a sidelined figure. As such, his passing is unlikely to have any significant impact on the French political landscape amid continued efforts by the Bayrou gov't to reach agreement with opposition groups on passing a 2025 state budget.