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Athora Holding Ltd
Athora Holding Ltd

Athora Holding Ltd (ATHORA)

Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
ATHORA
Athora Holding Ltd€500
1USOA
Jun 23, 2026
currency
EUR
size (m)
500.000
maturity
Dec 16, 2037
type
Fixed
tenor
11.500
call
11.00
registration
Reg S Only
benchmark
Swaps
ranking
Tier 2
moody's
-
s&p
-
fitch
BBB
size description
Will Not Grow
re-open/tap
No
ipt
MS+270 area
ipt-pxd
-32
guidance
n/a - straight to launch
spread
239
coupon
5.375%
spread set
-
price
99.82500
yield
5.40%
book size (m)
2,900
peak book (m)
3,000
x-covered
5.8
book attrition
-3.33%
nic
-
billing & delivering
BAM
active leads
BAM,HSB
joint leads
BNP,BRC,CTI,NTW
passive leads
-
co-managers
-
coordinating managers
HSB
book size (m)
2,900
peak book (m)
3,000
x-covered
5.8
book attrition
-3.33%
nic
-
billing & delivering
BAM
active leads
BAM,HSB
joint leads
BNP,BRC,CTI,NTW
passive leads
-
co-managers
-
coordinating managers
HSB
Tranche Comments
Book size: 2900; First Pay: 2026-12-16; Redemption: 2037-06-16; Registration: Reg S Only; Comments: DBR2.9% 36 +248.6 (Spot 99.87, HR 101%), 5.4%. MWC: B+40. Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI:98450059DQ10TFC4B020;
Use of Proceeds
General corporate purposes (including, without limitation, towards: (a) the cash tender offer for all or a portion of the EUR500 million fixed to fixed rate subordinated notes due 2032 issued by Athora Netherlands N.V., as announced by Athora Netherlands N.V. on 22 June 2026; and (b) bank loan refinancings)
Relative Value

COMPS

Bond

Issued

Maturity date

Call date

Rating (M/S/F)

Size (€m)

I-Sprd to call (bid/offer)

YTC bid (%)

ATHORA 5 7/8 09/10/34

Jun-24

Sep-34

Jun-34

-/-/BBB

750

220/210

5.142

GIM 4.406 06/03/37

May-26

Jun-37

Dec-36

A3/-/A-

750

134/129

4.397

AVLN 4 3/4 11/28/57

May-26

Nov-57

May-37

A3/-/BBB+u

575

153/149

4.585

VRDIUM 4 3/8 11/16/35

Oct-25

Nov-35

Aug-35

-/-/BBB

850

195/185

4.937

Hide Details

Commentary

All Commentary
CreditFlow: End of Day (Europe IG)Jun 23, 2026
1 to 1 of 1

Deal Flow

All Deal Flow
PRICED: Athora Holding €500m 11.5NC11 T2; MS+238bpJun 23, 2026
ALLOCATIONS OUT: Athora Holding €500m 11.5NC11 T2; MS+238bpJun 23, 2026
LAUNCHED: Athora Holding €500m 11.5NC11 T2; MS+238bpJun 23, 2026
UPDATE (BOOKS): Athora Holding €500m (WNG) 11.5NC11 T2; MS+270aJun 23, 2026
NEW ISSUE: Athora Holding €500m (WNG) 11.5NC11 T2; MS+270aJun 23, 2026
MANDATE: Athora Holding Inv Calls; Reg S €500m (WNG) 11.5yr T2 Offering May FollowJun 22, 2026
1 to 6 of 6
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About
Careers
Contact
Solutions
API Overview
API Documentation
Global Issuers List
Global Parents List
Pricing
OpenMarket Profiles
Career Portal
CapEdge
CreditFlow
Deal Roadshow
DealVDR
Evercall
More
Americas
+1 888 997 6610
APAC
+852 3018 1600
EMEA
+44 80817 87364
support@creditflowresearch.com
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