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Corporate Credit > U.S. Investment Grade
Walgreen Company (WAG) Updated: Oct 1, 2015
Trade Idea:
o Walgreen: stable operating and credit outlook. Spreads reflect the weaker credit metrics from the recent debt financed
acquisition of Alliance Boots as well as weaker technicals from the additional S7 bn in debt issued.
Investment Rationale:
0 Bonds no longer look attractive relative to peers
Recommendation(s):
Trade Ratings Issue Spread Cash
View Horizon Ticker CPN Maturity CCY Size Yield Price 'SIN
S&P kioody s Entry
Outperform 6-12 WAG 450 11/18/2034 BBB Baal USD 500 507 236 206 256 9305 U593142
months 7AB40
Deutsche Asset
& Wealth Management 24
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0075492
CONFIDENTIAL SDNY_GM_00221676
EFTA01378323
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