No results found for "".

Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
MTRL
PRCD
SIKASW
Sika Capital BV€1,000
2EMEA
Aug 19, 2026
currency
EUR
size (m)
500.000
maturity
Aug 26, 2056
type
Fixed Rate Reset
tenor
30.000
call
5.75
registration
Reg S Only
benchmark
Swaps
ranking
Subordinated
moody's
-
s&p
BBB
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
5.00%-5.125%
ipt-pxd
-56.25
guidance
4.625% area (+-12.5)
spread
136.2
coupon
4.375%
spread set
-
price
99.39700
yield
4.50%
book size (m)
3,750
peak book (m)
5,000
x-covered
7.5
book attrition
-25.00%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
book size (m)
3,750
peak book (m)
5,000
x-covered
7.5
book attrition
-25.00%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
currency
EUR
size (m)
500.000
maturity
Aug 26, 2056
type
Fixed Rate Reset
tenor
30.000
call
8.75
registration
Reg S Only
benchmark
Swaps
ranking
Subordinated
moody's
-
s&p
BBB
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
5.50%-5.625%
ipt-pxd
-56.25
guidance
5.125% area (+-12.5)
spread
176.8
coupon
4.875%
spread set
-
price
99.15300
yield
5.00%
book size (m)
5,050
peak book (m)
4,600
x-covered
10.1
book attrition
9.78%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
book size (m)
5,050
peak book (m)
4,600
x-covered
10.1
book attrition
9.78%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 3750; First Pay: 2027-05-26; Redemption: 2032-02-26; Registration: Reg S Only; Comments: DBR 1.7 08/32 @ 92.950 / 3.005% / b+149.5bps. MWC: B+25. CoC: 100%. Tax Call: Yes. Regulatory Call: Yes. LEI: 549300QW8B2Z3FSBS808; Book size: 5050; First Pay: 2027-05-26; Redemption: 2035-02-26; Registration: Reg S Only; Comments: DBR 2.6 08/35 @ 95.389 / 3.199% / b+180.1bps. MWC: B+30. CoC: 100%. Tax Call: Yes. Regulatory Call: Yes. LEI: 549300QW8B2Z3FSBS808;
Guarantor(s)
Sika AG
Use of Proceeds
General Corporate Purposes of the Sika Group including (re)financing of bolt-on acquisitions and existing financial indebtedness
Relative Value

COMPS

Senior Bonds:

Bond

Rating (M/S&P/F)

Issue Dt.

Amt. Out

Tenor

Yield

I-Spd

 

SIKASW 3.750 5/30

-/A-/-

May-23

750mm

3.7yr

3.5

ms+47

 

SIKASW 1.500 4/31

-/A-/-

Apr-19

500mm

4.7yr

3.39

ms+34

 

Hybrid Bonds:

Bond

Rating (M/S&P/F)

Issue Dt.

Amt. Out

Tenor

YTR/YTC

I-Spd

Sub/Sen

AMPRIO 4.250 nc 7/31

Baa3/-/BBB

Apr-26

500mm

4.9yr

4.5/4.51

ms+144

81

AMPRIO 4.750 nc 4/34

Baa3/-/BBB

Apr-26

500mm

7.7yr

4.86/4.87

ms+172

90

BNFP 3.950 nc 9/32

Baa3/BBB-/-

Sep-25

500mm

6.1yr

4.28/4.3

ms+120

61

CARLB 4.370 nc 8/31

Baa3/-/BBB-

May-26

1,000mm

5.0yr

4.38/4.39

ms+132

77

CARLB 4.875 nc 5/34

Baa3/-/BBB-

May-26

800mm

7.8yr

4.72/4.72

ms+158

82

ENGIFP 4.371 nc 7/31

Baa3/BBB-/BBB

Apr-26

1,000mm

4.9yr

4.48/4.49

ms+143

86

ENGIFP 4.000 nc 4/32

Baa3/BBB-/BBB

Oct-25

500mm

5.7yr

4.52/4.54

ms+144

83

ENGIFP 5.125 nc 6/33

Baa3/BBB-/BBB

Jun-24

1,035mm

6.8yr

4.66/4.65

ms+155

88

ENGIFP 4.825 nc 4/34

Baa3/BBB-/BBB

Apr-26

600mm

7.7yr

4.78/4.78

ms+164

91

EVKGR 4.250 nc 6/31

Baa3/BBB-/-

Sep-25

500mm

4.8yr

4.51/4.53

ms+146

na

IBESM 3.750 nc 11/31

Baa3/BBB-/BBB

Nov-25

1,000mm

5.2yr

4.39/4.42

ms+132

82

IBESM 3.950 nc 3/33

Baa3/BBB-/BBB

Mar-26

600mm

6.6yr

4.47/4.49

ms+137

80

MRKGR 3.750 02/31

Baa2/BBB+/-

Nov-25

850mm

4.5yr

4.28/4.31

ms+123

84

ORAFP 4.500 nc 3/31

Baa3/BBB-/BBB-

Apr-24

700mm

4.6yr

4.31/4.31

ms+126

79

ORAFP 3.875 nc 6/32

Baa3/BBB-/BBB-

Jun-25

750mm

5.9yr

4.5/4.53

ms+142

83

ORAFP 4.250 nc 6/33

Baa3/BBB-/BBB-

Jun-26

850mm

6.9yr

4.6/4.61

ms+149

81

SSELN 4.375 nc 9/31

Baa3/BBB-/BBB

Jun-26

650mm

5.1yr

4.48/4.48

ms+142

78

SSELN 4.500 nc 6/33

Baa3/BBB-/BBB

Jun-25

500mm

6.8yr

4.72/4.73

ms+161

82

SSELN 4.750 nc 6/34

Baa3/BBB-/BBB

Jun-26

650mm

7.8yr

4.83/4.83

ms+168

81

STEDIN 4.250 nc 1/36

-/BBB-/-

Jan-26

500mm

9.4yr

4.77/4.78

ms+156

80

TRNIM 3.875 nc 2/32

Baa3/BBB/-

Feb-26

850mm

5.5yr

4.52/4.55

ms+145

87