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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
SEB
Skandinaviska Enskilda Banken AB (SEB)€1,500
2EMEA
Aug 20, 2026
currency
EUR
size (m)
1,000.000
maturity
Aug 27, 2029
type
Fixed
tenor
3.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
Aaa
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-6
guidance
MS+14 area
spread
8
coupon
3.125%
spread set
-
price
99.86500
yield
3.173%
book size (m)
2,500
peak book (m)
2,800
x-covered
2.5
book attrition
-10.71%
nic
-2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,500
peak book (m)
2,800
x-covered
2.5
book attrition
-10.71%
nic
-2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
500.000
maturity
Aug 27, 2029
type
Floating
tenor
3.000
call
-
registration
Reg S Only
benchmark
3mEu
ranking
Covered Bond
moody's
Aaa
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-6
guidance
3mEu+24 area
spread
18
coupon
3mEu+18
spread set
-
price
100.00000
yield
-
book size (m)
1,300
peak book (m)
1,500
x-covered
2.6
book attrition
-13.33%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,300
peak book (m)
1,500
x-covered
2.6
book attrition
-13.33%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2500; First Pay: 2027-08-27; Registration: Reg S Only; Comments: +30.4bps vs OBL 2.1 04/12/29 #189 Corp px 98.070 - HR 114%. LEI: F3JS33DEI6XQ4ZBPTN86; Book size: 1300; First Pay: 2026-11-27; Registration: Reg S Only; Comments: LEI: F3JS33DEI6XQ4ZBPTN86;
Deal Comments
Final books >€3.8bn (incl. €850m JLMs)
Relative Value

Covered
3yr (Aug 2029) @ MS+24a

Implied Spread for fresh 8yr @ MS+20

Priced at MS+18
NIC of -2


COMPS

Security

Tenor

I+ (mid)

BYLAN 2 3/4 06/22/29

2.8

1

MUNHYP 2 7/8 07/05/29

2.9

1

NDAFH 2 7/8 06/10/30

3.8

10