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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
AYVFP
Ayvens (fka ALD SA)€500
1EMEA
Jun 16, 2026
currency
EUR
size (m)
500.000
maturity
Jun 23, 2032
type
Fixed
tenor
6.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Senior Preferred
moody's
A1
s&p
A-
fitch
A
size description
Will Not Grow
re-open/tap
No
ipt
MS+100 area
ipt-pxd
-30
guidance
n/a - straight to launch
spread
70
coupon
3.50%
spread set
-
price
99.88800
yield
3.521%
book size (m)
2,400
peak book (m)
2,400
x-covered
4.8
book attrition
0.00%
nic
9.5
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,400
peak book (m)
2,400
x-covered
4.8
book attrition
0.00%
nic
9.5
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2400; Registration: Reg S Only; Comments: 82.9bps vs DBR 0 02/15/32 (DE0001102580) / 86.035 / HR 112%. MWC: B+15. Clean-Up Call: 75%. LEI: 969500E7V019H9NP7427;
Use of Proceeds
An amount equal to the net proceeds will be applied exclusively for the financing or refinancing of eligible vehicles (“Eligible Assets”), that contribute to the development of clean transportation and the transition to a low carbon future in accordance with the eligibility criteria set out in the Green Financing Framework (the "Framework")
Relative Value

Green, Senior Preferred
6yr (Jun 2032) @ MS+100 area

Implied Spread for fresh 6yr @ MS+60.5

Priced at MS+70
NIC of +9.5

COMPS

Security

Ticker

Rating (M/S/F)

Coupon

Px Date

Size

Mty

I-Spread

ESG

AYVFP 3 1/4 02/19/30

AYVFP

A1/A-/A

3.25%

11/02/2025

€500m

Feb-30

52

 

AYVFP 3 04/18/30

AYVFP

A1/A-/A

3.00%

12/01/2026

€750m

Apr-30

52

GREEN

AYVFP 4 01/24/31

AYVFP

A1/A-/A

4.00%

15/01/2024

€500m

Jan-31

55