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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
FRLBP
La Banque Postale SA€750
1EMEA
Sep 30, 2026
currency
EUR
size (m)
750.000
maturity
Oct 8, 2030
type
Fixed to Floating
tenor
4.000
call
3.00
registration
Reg S Only
benchmark
Swaps
ranking
Senior Non-Preferred
moody's
Baa2
s&p
BBB
fitch
A-
size description
-
re-open/tap
No
ipt
MS+120-125
ipt-pxd
-17.5
guidance
STL
spread
105
coupon
4.50%
spread set
-
price
99.66500
yield
4.622%
book size (m)
1,750
peak book (m)
1,750
x-covered
2.33
book attrition
0.00%
nic
12
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,750
peak book (m)
1,750
x-covered
2.33
book attrition
0.00%
nic
12
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1750; Redemption: 2029-10-08; Registration: Reg S Only; Comments: 133.9bps vs OBL 2.5 10/29 (px 97.78). Clean-Up Call: 75%. LEI: 96950066U5XAAIRCPA78;
Use of Proceeds
General Corporate Purposes
Relative Value

Senior Non-Preferred FTF
NC3yr (Oct 2039) @ MS+120-125
Implied Spread for fresh NC3yr @ MS+93
Priced at MS+105
NIC of +12


COMPS

Issuer

Instrum. Rating

Coupon

Call Date

Maturity

Tenor

Size

Issue Date

Bid i-Spread

La Banque Postale SA

Baa2/BBB/A- *-

3.50%

Apr-30

Apr-31

4,5NC3,5

500

24/09/2024

96

La Banque Postale SA

Baa2/BBB/A- *-

3.50%

Dec-31

Dec-32

6,2NC5,2

500

25/11/2025

108

BFCM

A3/A-/A+

4.25%

Sep-29

Sep-30

4NC3

1 250

17/09/2026

83

BFCM

A3/A-/A+

3.50%

Jul-32

Jul-33

6,8NC5,8

1 000

12/01/2026

109

Societe Generale SA

Baa2/BBB/A-

3.63%

Nov-29

Nov-30

4,1NC3,1

1 000

07/11/2024

88

Societe Generale SA

Baa2/BBB/A-

3.75%

Jul-30

Jul-31

4,8NC3,8

1 000

07/01/2025

93

Societe Generale SA

Baa2/BBB/A-

3.50%

Mar-31

Mar-32

5,4NC4,4

1 000

24/11/2025

104