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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
BAWAG
Bawag Psk€500
1EMEA
Jun 15, 2026
currency
EUR
size (m)
500.000
maturity
Jun 22, 2029
type
Fixed to Floating
tenor
3.000
call
2.00
registration
Reg S Only
benchmark
Swaps
ranking
Senior Preferred
moody's
A1
s&p
-
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
MS+70 area
ipt-pxd
-32
guidance
n/a - straight to launch
spread
38
coupon
3.125%
spread set
-
price
99.96200
yield
3.145%
book size (m)
1,850
peak book (m)
2,000
x-covered
3.7
book attrition
-7.50%
nic
3
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,850
peak book (m)
2,000
x-covered
3.7
book attrition
-7.50%
nic
3
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1850; First Pay: 2027-06-22; Redemption: 2028-06-22; Registration: Reg S Only; Comments: +58.3bps vs OBL 2.2 04/13/28 (@99.36), HR 109%. LEI: 529900ICA8XQYGIKR372;
Use of Proceeds
Finance or refinance, in whole or in part, eligible green projects
Relative Value

Green, Senior Preferred
3NC2 (June 2029) @ MS+70 area

Implied Spread for fresh 3NC2 @ MS+35

Priced at MS+38
NIC of +3


COMPS

Ticker

Rating (M/S&P/F)

Issue dt.

Amt.

Tenor

1st Call

I-Sprd Bid

Label

BAWAG 3 1/8 10/03/29

A1 / NR / NR

Sep-24

€500mm

3.3yr

2.3yr

ms+31bp

Green

ABNANV 2 5/8 01/16/29

A1 / A / AA-

Jan-26

€1,000mm

2.6yr

-

ms+26bp

-

INTNED 3 1/4 05/12/29

A2 / A+ / AA

May-26

€1,000mm

2.9yr

-

ms+35bp

Green