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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
OPBANK
OP Corporate Bank PLC (fka Pohjola Bank PLC)€500
1EMEA
Sep 7, 2026
currency
EUR
size (m)
500.000
maturity
Sep 14, 2033
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Senior Preferred
moody's
Aa3
s&p
AA-
fitch
-
size description
Expected
re-open/tap
No
ipt
MS+85 area
ipt-pxd
-23
guidance
STL
spread
62
coupon
3.875%
spread set
-
price
99.68100
yield
3.928%
book size (m)
750
peak book (m)
1,340
x-covered
1.5
book attrition
-44.03%
nic
7
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
750
peak book (m)
1,340
x-covered
1.5
book attrition
-44.03%
nic
7
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 750; First Pay: 2027-09-14; Registration: Reg S Only; Comments: DBR 2.6% 08/33 +72.1bps (@96.275 - HR 100%). Tax Call: Yes. Regulatory Call: Yes. LEI: 549300NQ588N7RWKBP98;
Use of Proceeds
General Corporate Purposes
Relative Value

Senior Preferred
7yr (Sep 2033) @ MS+85a
Implied Spread for fresh 7yr @ MS+55
Priced at MS+62
NIC of +7


COMPS

Ticker

Ratings (M/S/F)

Amount

Coupon

Maturity

I+ Bid

OPBANK

Aa3/AA-/-

500

3.25

15-May-31

45

NDAFH

Aa2/AA-/AA

1000

3.25

29-Apr-31

45

NDAFH

Aa2/AA-/AA

750

3.625

24-Aug-33

56

SEB

Aa3/AA-/AA+

1000

3.375

07-May-31

45

SEB

Aa3/AA-/AA+

750

3.2

30-Sep-33

55