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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
UTIL
PRCD
EUROGR
Eurogrid GmbH€500
1EMEA
Aug 4, 2026
currency
EUR
size (m)
500.000
maturity
Aug 18, 2038
type
Fixed
tenor
12.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
-
size description
-
re-open/tap
No
ipt
MS+140-145
ipt-pxd
-34.5
guidance
MS+115 area
spread
108
coupon
4.292%
spread set
-
price
100.00000
yield
4.292%
book size (m)
2,700
peak book (m)
4,200
x-covered
5.4
book attrition
-35.71%
nic
-1
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,700
peak book (m)
4,200
x-covered
5.4
book attrition
-35.71%
nic
-1
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2700; Registration: Reg S Only; Comments: DBR 1% 05/2038, 3.275%, 78.07% (HR 110%). MWC: B+15. Tax Call: Yes. Clean-Up Call: 80%. LEI: 967600Q53854Z2NBCC81;
Guarantor(s)
50Hertz Transmission GmbH, 50Hertz Offshore GmbH
Use of Proceeds
The Notes are designated as "European Green Bond" or "EuGB" in accordance with Regulation (EU) 2023/2631 of the European Parliament and of the Council. An amount equivalent to the gross proceeds of the issuance of Notes will be applied to finance, refinance and/or invest in eligible activities in line with Eurogrid’s European Green Bond Factsheet (included in Eurogrid's Green Financing Framework) dated September 2025
Relative Value

12yr (Aug 2038) @ MS+140-145
Implied Spread for fresh 12yr @ MS+109
Priced at MS+108
NIC of -1


COMPS

Ticker

Issue Date

Cpn (%)

Rating

Amount (€mn)

Maturity

Life

Bid Yield (%)

Bid I-Spread (bps)

EUROGR

22/01/2024

3.915

NR/BBB/NR

800

01/02/2034

7.5

3.901

80

EUROGR

08/10/2024

3.732

NR/BBB/NR

1,050

18/10/2035

9.2

4.055

90

EUROGR

19/05/2025

4.056

NR/BBB/NR

800

28/05/2037

10.8

4.219

101

EUROGR

06/10/2025

4.165

NR/BBB/NR

704

16/10/2040

14.2

4.474

118

TENNGR

07/07/2026

3.625

Baa1/BBB+/A-

750

15/07/2034

7.9

3.798

69

TENNGR

07/07/2026

4.125

Baa1/BBB+/A-

1,000

15/07/2038

11.9

4.16

92

EOANGR

20/05/2026

4.053

Baa2/BBB+/A-

650

27/05/2036

9.8

4.084

91

EOANGR

12/01/2026

3.895

Baa2/BBB+/A-

850

19/01/2038

11.5

4.185

96

AMPRIO

07/01/2026

4.072

Baa2/NR/A-

1,000

15/01/2038

11.5

4.298

107

AMPRIO

19/08/2024

3.85

Baa2/NR/A-

600

27/08/2039

13.1

4.427

116