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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
NYKRE
Nykredit Realkredit AS€500
1EMEA
Sep 8, 2026
currency
EUR
size (m)
500.000
maturity
Sep 16, 2030
type
Fixed
tenor
4.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Senior Non-Preferred
moody's
-
s&p
A-
fitch
A+
size description
Will Not Grow
re-open/tap
No
ipt
MS+95-100
ipt-pxd
-29.5
guidance
STL
spread
68
coupon
3.875%
spread set
-
price
99.78900
yield
3.933%
book size (m)
1,900
peak book (m)
2,800
x-covered
3.8
book attrition
-32.14%
nic
-2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,900
peak book (m)
2,800
x-covered
3.8
book attrition
-32.14%
nic
-2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1900; First Pay: 2027-09-16; Registration: Reg S Only; Comments: OBL 2.2% 10/30s #192 +86bps (Spot 96.695px / 98% HR)ю Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: LIU16F6VZJSD6UKHD557;
Relative Value

Senior Non-Preferred
4yr (Sep 2030) @ MS+95-100
Implied Spread for fresh 4yr @ MS+70
Priced at MS+68
NIC of -2


COMPS

Ticker

Issuer

Ratings (M/S&P/F)

Coupon

Size

Type

Maturity

Tenor*

I-Spread

NYKRE

Nykredit

-/A-/A+

3.38%

EUR 500m

Bullet

Jan-30

3.3yr

MS +55

NYKRE

Nykredit

-/A-/A+

3.63%

EUR 750m

Bullet

Jul-30

3.9yr

MS +68

NYKRE

Nykredit

-/A-/A+

3.50%

EUR 500m

Bullet

Jul-31

4.8yr

MS +66

DANBNK

Danske Bank

A3/A-/A+

3.88%

EUR 750m

Callable

01-2032/31s

4.3yr

MS +60

JYBC

Jyske Bank

-/BBB+/-

3.50%

EUR 500m

Callable

11-2031/30s

4.2yr