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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
SSA
PRCD
KHFC
Korea Housing Finance Corp€800
1APAC
Aug 24, 2026
currency
EUR
size (m)
800.000
maturity
Sep 1, 2029
type
Fixed
tenor
3.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
Aaa
s&p
AAA
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-7
guidance
MS+24 area
spread
17
coupon
3.27%
spread set
-
price
100.00000
yield
3.27%
book size (m)
2,400
peak book (m)
2,500
x-covered
3
book attrition
-4.00%
nic
3
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,400
peak book (m)
2,500
x-covered
3
book attrition
-4.00%
nic
3
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2400; Registration: Reg S Only; Comments: OBL 2.1 04/12/29 #189 +40bps (Px. 98.07). HR 114%. Listings: SGX-ST, Frankfurt Stock Exchange and Euro MTF (Luxembourg Stock Exchange) (expected). LEI: 9884002AAOBT56QW9B80;
Use of Proceeds
An amount equal to the net proceeds from the issue of the Covered Bonds will be used by the Issuer to finance and/or refinance, in whole or in part, new or existing eligible social project categories meeting the eligibility criteria set out in the Issuer’s Sustainable Financing Framework dated February 2026 (which is available on the Issuer’s website)
Relative Value

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

Implied Spread for fresh 3yr @ MS+14

Priced at MS+17
NIC of +3

COMPS

Issuer

Issue Ratings (M/S/F)

Coupon (%)

Pricing

Maturity

Tenor

Size

Issue Spread

I-Spread

Date

Date

(Yrs)

(EURmn)

(bps) 

(bps)

 

 

 

Bank of Montreal (BMO)

Aaa/--/AAA

2.75

May-26

Jun-29

2.9

1,000

MS+13

10

DBS Bank (DBSSP)

Aaa/--/AAA

3.239

Aug-26

Aug-30

4

2,000

MS+19

18