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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
GLJGR
Grenke Finance PLC€300
1EMEA
Aug 25, 2026
currency
EUR
size (m)
300.000
maturity
Oct 7, 2031
type
Fixed
tenor
5.250
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
BBB
size description
-
re-open/tap
No
ipt
MS+170 area
ipt-pxd
-10
guidance
STL
spread
160
coupon
4.625%
spread set
-
price
99.69100
yield
4.692%
book size (m)
400
peak book (m)
540
x-covered
1.33
book attrition
-25.93%
nic
23
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
400
peak book (m)
540
x-covered
1.33
book attrition
-25.93%
nic
23
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 400; First Pay: 2027-10-07; Registration: Reg S Only; Comments: OBL #194 2.9% 10/31 +175.2bps (Price: 99.80% / Yield: 3.092%) / HR: 95%. LEI: 635400ILKD2MBMANBG03;
Guarantor(s)
Grenke AG
Use of Proceeds
General Corporate Purposes
Relative Value

L 5yr (Oct 2031) @ MS+170a

Implied Spread for fresh L 5yr @ MS+137

Priced at MS+160
NIC of +23


COMPS

Ticker

Coupon

Maturity

Maturity

Issue Date

Size

Yld

I-Sprd

GLJGR

5.25

Apr-30

3.6

May-25

550

4.298

120

GLJGR

3.875

Jan-31

4.4

Feb-26

500

4.416

131