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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
UTIL
PRCD
NEGANV
Nederlandse Gasunie NV€650
1EMEA
Jun 23, 2026
currency
EUR
size (m)
650.000
maturity
Jun 30, 2037
type
Fixed
tenor
11.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
AA-
fitch
-
size description
-
re-open/tap
No
ipt
MS+115 area
ipt-pxd
-30
guidance
n/a - straight to launch
spread
85
coupon
3.75%
spread set
-
price
99.11700
yield
3.85%
book size (m)
1,100
peak book (m)
1,400
x-covered
1.69
book attrition
-21.43%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,100
peak book (m)
1,400
x-covered
1.69
book attrition
-21.43%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1100; Registration: Reg S Only; Comments: DBR 4 01/04/37 +88.8bps (@109.26) / HR 93%. MWC: B+15. Clean-Up Call: 75%. LEI: 724500MQFZSYSBC5H178;
Deal Comments
UPDATE: Spread set at MS+85. Exp Size: EUR500m
Use of Proceeds
General Corporate Purposes
Relative Value

COMPS

TICKER

MDY

S&P

FITCH

ISSUE

MAT

CPN

TTM

AMT

€MS+

** Gasunie **

NEGANV

-

AA-

-

Nov-23

May-33

3.875

6.9

300

68

NEGANV

A2

-

-

Jun-22

Jul-34

3.375

8.1

500

71

NEGANV

A2

AA-

-

Apr-25

Apr-35

3.5

8.8

750

71

NEGANV

A2

-

-

Oct-21

Oct-36

0.75

10.3

300

80

NEGANV

-

AA-

-

Jan-26

Jan-38

3.75

11.6

750

82

** Other Dutch Utilities **

ALLRNV

A1

-

-

Apr-26

Apr-36

3.75

9.9

500

73

ALLRNV

-

A

-

Apr-25

May-37

3.5

10.9

500

77

ENEXIS

-

NR

AA

May-24

May-36

3.5

9.9

500

78

ENEXIS

A1

-

AA

Apr-25

Apr-37

3.625

10.8

500

77

STEDIN

-

A-

-

Feb-25

Feb-37

3.375

10.6

500

86