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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
REAL
PRCD
MILEWY
Mileway EUR Lux Holdco Sarl€1,500
2EMEA
Jul 8, 2026
currency
EUR
size (m)
850.000
maturity
Jul 15, 2030
type
Fixed
tenor
4.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
MS+135 area
ipt-pxd
-30
guidance
MS+110 area
spread
105
coupon
3.875%
spread set
-
price
99.72000
yield
3.952%
book size (m)
1,650
peak book (m)
2,000
x-covered
1.94
book attrition
-17.50%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
1,650
peak book (m)
2,000
x-covered
1.94
book attrition
-17.50%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
currency
EUR
size (m)
650.000
maturity
Jul 15, 2033
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
MS+170-175
ipt-pxd
-29.5
guidance
MS+145 area
spread
143
coupon
4.375%
spread set
-
price
99.64000
yield
4.436%
book size (m)
1,500
peak book (m)
1,750
x-covered
2.31
book attrition
-14.29%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
1,500
peak book (m)
1,750
x-covered
2.31
book attrition
-14.29%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 1650; Registration: Reg S Only; Comments: 120.3bps vs OBL 2.4% Apr-30 @ 98.760 / HR 103%. MWC: B+20. CoC: 101%. Tax Call: Yes. Clean-Up Call: 80%. LEI: 213800PN1NF2W1ACOG21; Book size: 1500; Registration: Reg S Only; Comments: 153.0bps vs DBR 2.3% Feb-33 @ 96.400 / HR 102%. MWC:B+25. CoC: 101%. Tax Call: Yes. Clean-Up Call: 80%. LEI: 213800PN1NF2W1ACOG21;
Deal Comments
Combined Books >EUR 3.7bn. Total deal size EUR 1.5bn
Guarantor(s)
Mileway EUR Lux Bidco Sarl
Use of Proceeds
The net proceeds of the issue of the Notes will be used for repayment of existing indebtedness, transaction costs and expenses and general corporate purposes
Relative Value

COMPS

Ticker

Rating (M/S&P)

Coupon

Maturity

Tenor (Yrs)

I-Sprd

SAGAX

Baa2/NR

4.38%

May-30

3.9y

92

SAGAX

Baa2/NR

3.38%

Jan-31

4.6y

102

SAGAX

Baa2/NR

4.00%

Mar-32

5.7y

113

CTPNV

Baa2/BBB

3.38%

Jul-30

4.0y

80

CTPNV

Baa2/BBB

3.63%

Mar-31

4.7y

97

CTPNV

Baa2/BBB

3.88%

Nov-32

6.4y

115

CTPNV

Baa2/BBB

4.25%

Mar-35

8.7y

142

LOGICR

NR/BBB

1.63%

Jan-30

3.5y

91

LOGICR

NR/BBB

0.88%

Jan-31

4.5y

104

LOGICR

NR/BBB

3.75%

Jul-32

6.0y

127

LOGICR

NR/BBB

2.00%

Jan-34

7.5y

128

SEGPLP

Baa2/NR

0.88%

May-29

2.9y

65

SEGPLP

Baa2/NR

3.75%

Jan-32

5.5y

97

SEGPLP

Baa2/NR

4.00%

Jun-33

7.0y

113

PTHREE

NR/BBB

4.63%

Feb-30

3.6y

82

PTHREE

NR/BBB

3.38%

Mar-31

4.7y

97

PTHREE

NR/BBB

4.00%

Apr-32

5.8y

111

PTHREE

NR/BBB

3.75%

Apr-33

6.7y

128

ARGFP

NR/BBB-

3.78%

Oct-29

3.3y

88

BPPEHX

NR/BBB

1.63%

Apr-30

3.8y

93

BPPEHX

NR/BBB

3.50%

Jan-31

4.6y

109