EM CEEMEA CREDIT: SAFTRA: ups wage increase offer
Mar-06 16:34
Transnet (SAFTRA; Ba3Neg/BB-WNeg/-)
“*SOUTH AFRICA'S TRANSNET RAISES WAGE OFFER TO RECOGNIZED UNIONS” – BBG
• Neutral for credit. Transnet continues in its negotiation process and as such it has increased its offer to 16% over a three year period. The earlier proposal indicated CPI-linked increases totalling a 14.5% increment over the next three-year period.
• For context and as previously posted, South Africa’s transport infrastructure operator Transnet is in talks with unions for a multi-year wage deal. According to Co.’s media statement, this refers to due renewal of the about-to-expire existing three-year wage agreement (covering up to Mar ’25).
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FED: US TSY 42D AUCTION: HIGH RATE 4.250%; 71.47% AT HIGH
Feb-04 16:32
- US TSY 42D AUCTION: HIGH RATE 4.250%; 71.47% AT HIGH
- US TSY 42D BILL AUCTION: DEALERS TAKE 35.33% OF COMPETITIVES
- US TSY 42D BILL AUCTION: DIRECTS TAKE 2.75% OF COMPETITIVES
- US TSY 42D BILL AUCTION: INDIRECTS TAKE 61.92% OF COMPETITIVES
- US TSY 42D AUCTION: BID/COVER 2.80
EGB SYNDICATION: Croatia 12-year CROATI: Priced
Feb-04 16:28
- Reoffer price 99.745 to yield 3.276%
- Spread set at MS + 90bps (IPTs were +120bp area, guidance: + 95bp area)
- Size: E2bln (MNI expected E1.5bln)
- Final books in excess of E4.4bln
- HR 88% vs 4.00% Jan-37 Bund
- Maturity: 11 February 2037 (12-year)
- Settlement: 11 February 2025 (T+5)
- ISIN: XS2997390153
- Joint Bookrunners: Erste Group, IMI-Intesa Sanpaolo/PBZ, ING (B&D), J.P. Morgan, Morgan Stanley
- Timing: FTT 16:45CET, Feb 5, 2025
From market source / BBG
FED: US TSY 42D AUCTION: NON-COMP BIDS $349 MLN FROM $85.000 BLN TOTAL
Feb-04 16:15
- US TSY 42D AUCTION: NON-COMP BIDS $349 MLN FROM $85.000 BLN TOTAL
