LEVFIN SNAPSHOT: IAG Rallies on Vaccine Optimism; PureGym Gains
2020-11-10 13:44:16.645 GMT
By Libby Cherry
(Bloomberg) — Bonds of British Airways parent
International Consolidated Airlines Group gained for a sixth day
to reach their highest price since March, as optimism about the
availability of a Covid-19 vaccine bolstered sentiment toward
sectors hard hit by the pandemic such as travel and leisure.
* IAG’s EU500m bonds due July 2027 rose 3.7 cents on the euro to
84.7: data compiled by Bloomberg
* PureGym’s GBP430m bonds due Feb. 2025 gained 1.2 pence on the
pound to 94.8, reaching their highest level since early March
** The U.K. gym operator’s efficient operating model and
competitive product should help its business to recover more
quickly than its peers, Moody’s Investors Service said in a
statement Monday
** NOTE: Shuttered Gyms No Obstacle for U.K.’s PureGym Bond
Offer
* Czech lottery firm Sazka Group’s EU300m bonds due Feb. 2027
rose 0.5 cents on the euro to 91.5, the highest level since June
** The company annnounced a EU500m investment from U.S. private
equity firm Apollo which will be used to fund growth
opportunities in Europe and North America: statement Tuesday
** “This is evidently good news for the company, which needs
external growth to simplify its structure and solidify its
positions toward more mature markets”: analysts at Spread
Research in an emailed note to clients on Tuesday
* The iTraxx Markit Europe Crossover Index continued to tighten
for the seventh day, declining ~5.7bps to ~286.9bps, the lowest
value since March 3