EURO BONDS-Ineos, BAWAG, Int Power, Towergate, TMD Friction

LONDON, May 5 (BestGrowthStock) – News, details on corporate bond
issues in the European markets on Wednesday:

INEOS [INEOSP.UL]

Issue: The UK chemical company’s planned 5-year senior
secured bond has been set at 250 million euros ($333 million) to
yield 9.25-9.5 percent, an official with one of the banks
managing the sale said. Books are expected to close soon.

Books on a $585 million five-year bond closed late on
Tuesday with a yield at 9-9.25 percent.

Managing banks: Barclays, Citigroup, JP Morgan and Morgan
Stanley.

Expected ratings: Moody’s B2, S&P B-

TMD FRICTION

Issue: German auto parts supplier, owned by private equity
firm Pamplona Capital Management, plans a 7-year 160 million
euro bond, an official with one of the banks managing the sale
said. Part of the proceeds will be used to refinance existing
shareholder loan.

Managing banks: Credit Suisse, Quirin Bank

TOWERGATE FINANCE

Issue: Insurer plans a two-part high-yield bond, consisting
of a 300 million pound 8-year senior unsecured note and a 7-year
365 million pound senior secured note, an official with one of
the banks managing the sale said. Proceeds will be used to
refinance bank debt and a portion of existing preference shares
and fund acquisition.

Managing banks: Credit Suisse, JP Morgan

BAWAG

Mandate: The Austrian bank plans a roadshow on May 12 for a
covered bond issue, an official with one of the banks managing
the sale said.

Managing banks: BAWAG, Commerzbank, Erste, Goldman Sachs and
UBS.

INTERNATIONAL POWER FINANCE (IPR.L: )

Issue: The utility plans a 250 million euro ($333 million)
7-year high-yield bond via International Power Finance, an
official with one of the banks managing the sale said.A
roadshow starts on Wednesday in London and Edinburgh, as
reported by IFR Markets, a Thomson Reuters online news and
market analysis service.

Managing banks: Barclays, Deutsche Bank, Citi, Royal Bank of
Scotland.

Expected ratings: Moody’s Ba3, S&P BB

Stock Market

(London Corporate Finance: +44 207 542 3121)
($1=.7508 Euro)

EURO BONDS-Ineos, BAWAG, Int Power, Towergate, TMD Friction