| C/P | Industry | Status | Ticker(s) | Issuer(s) | Size(m) | Tranches | Region | Date | |
|---|---|---|---|---|---|---|---|---|---|
IGC | FNCL | PRCD | MRSH | Marsh & Mclennan Cos Inc | €1,200 | 2 | USOA | Oct 20, 2026 |
L5yr (Mar 2032) @ MS+110a
Implied Spread for fresh L5yr @ MS+75
Priced at MS+80
NIC of +5
10yr (Nov 2036) @ MS+150a
Implied Spread for fresh 10yr @ MS+115
Priced at MS+120
NIC of +5
СOMPS | ||||||||
1. EUR Secondaries / Comparables | ||||||||
Ticker | Full Name / Issuer | Ratings (M/S/F) | Coupon | Size | Tenor | Maturity | Call Date | I-Spread (Bid) |
MRSH | Marsh & McLennan Cos | A3 / A- / A- | 1.98% | €550m | 3.4y | Mar-30 | Dec-29 | +52 bps |
AIG | American International Group | Baa1 / A- / A- | 4.25% | €625m | 4.9y | Sep-31 | Aug-31 | +76 bps |
CHUBB | Chubb INA Holdings | A2 / A / A | 1.40% | €575m | 4.7y | Jun-31 | Mar-31 | +75 bps |
Great West Co | Great-West Lifeco | NR / A+ / A | 3.63% | €500m | 6.7y | Jul-33 | — | +86 bps |
AIG | American International Group | Baa1 / A- / A- | 4.75% | €500m | 9.9y | Sep-36 | Jun-36 | +116 bps |
CHUBB | Chubb INA Holdings | A2 / A / A | 2.50% | €900m | 11.4y | Mar-38 | Sep-37 | +109 bps |
2. USD Relative Value Reference (Cross-Currency Context) | ||||||||
Ticker | Ratings (M/S/F) | Coupon | Size | Tenor | Maturity | G-Spread | EUR MS Equivalent |
|
AIG | Baa1 / A- / A- | 4.85% | $625m | 3.6y | May-30 | +59 bps | +45 bps |
|
MRSH | A3 / A- / A- | 4.95% | $600m | 9.5y | Mar-36 | +82 bps | +94 bps |
|
AIG | Baa1 / A- / A- | 5.45% | $625m | 8.6y | May-35 | +87 bps | +98 |
|
| CreditFlow: End of Day (Europe IG) | Oct 20, 2026 |