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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
CONS
PRCD
TSCOLN
Tesco Corporate Treasury Services PLC€500
1EMEA
Jul 6, 2026
currency
EUR
size (m)
500.000
maturity
Jul 13, 2034
type
Fixed
tenor
8.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
BBB
fitch
BBB
size description
Will Not Grow
re-open/tap
No
ipt
MS+125 area
ipt-pxd
-35
guidance
MS+95 area
spread
90
coupon
3.75%
spread set
-
price
99.60000
yield
3.809%
book size (m)
3,150
peak book (m)
3,400
x-covered
6.3
book attrition
-7.35%
nic
0
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,150
peak book (m)
3,400
x-covered
6.3
book attrition
-7.35%
nic
0
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3150; Registration: Reg S Only; Comments: DBR 2.600% 08/15/34 (DE000BU2Z031) Bid (98.140) + +94.9bps / HR 96%. MWC: B+15. Clean-up Call: 80%. Tax Call: Yes. LEI: 21380018AJDKNF3A6712;
Guarantor(s)
Tesco PLC
Use of Proceeds
General Corporate Purposes
Relative Value

8yr (July 2034) @ MS+125 area

Implied Spread for fresh 8yr @ MS+90

Priced at MS+90
NIC of 0

COMPS

Issuer

Rating

Size

Coupon

Maturity

Tenor

I-Sprd

TESCO CORP TREASURY SERV

Baa2/BBB/BBB

€500m

4.25%

Feb-31

4.6y

50

TESCO CORP TREASURY SERV

Baa2/BBB/BBB

€500m

3.38%

May-32

5.8y

72

TESCO CORP TREASURY SERV

Baa2/BBB/BBB

€500m

3.50%

Oct-33

7.3y

82