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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
ADPFP
Groupe ADP (fka Aeroports de Paris or ADP)€600
1EMEA
Jun 10, 2026
currency
EUR
size (m)
600.000
maturity
Jun 17, 2035
type
Fixed
tenor
9.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
A-
fitch
-
size description
-
re-open/tap
No
ipt
MS+120-125
ipt-pxd
-24.5
guidance
n/a - straight to launch
spread
98
coupon
3.875%
spread set
-
price
98.74600
yield
4.044%
book size (m)
1,300
peak book (m)
1,300
x-covered
2.17
book attrition
0.00%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
co-managers
-
coordinating managers
-
book size (m)
1,300
peak book (m)
1,300
x-covered
2.17
book attrition
0.00%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1300; Registration: Reg S Only; Comments: DBR 0 May35 (76.55) + 100.4bps | HR 111%. CoC: Yes. Par Call: 3m. Clean-Up Call: 75%. MWC: B+15. LEI: 969500PJMBSFHYC37989;
Deal Comments
Exp Size: EUR500m
Use of Proceeds
General Corporate Purposes, including the refinancing of upcoming maturities
Relative Value

COMPS

Issuer

Rating

Issue date

Maturity Date

Coupon

o/s size

i-spread (bid)

ADP

-/A-/-

02/07/2020

02/07/2032

1,500%

€ 750 Mn

67

ADP

-/A-/-

20/03/2025

20/03/2033

3,500%

€ 500 Mn

76

ADP

-/A-/-

18/06/2019

18/06/2034

1,125%

€ 800 Mn

89

ADP

-/A-/-

20/03/2025

20/03/2036

3,750%

€ 500 Mn

89

AENA

A2/-/A

22/01/2026

22/01/2036

3,500%

€ 500 Mn

77

SCHIPHOL

A1/A+/-

20/03/2026

20/11/2035

3,625%

€ 500 Mn

77

AVINOR

A1/A+/-

29/05/2024

29/05/2034

3,500%

€ 500 Mn

69

AVINOR

A1/A+/-

09/09/2026

16/06/2036

3.750%

€ 500 Mn

76 (reoffer 77)