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GEK Terna SA
GEK Terna SA

GEK Terna SA (GEKTER)

Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
GEKTER
GEK Terna SA€500
1EMEA
Oct 26, 2026
currency
EUR
size (m)
500.000
maturity
Nov 2, 2033
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa3
s&p
BBB-
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
MS+165-170
ipt-pxd
-27.5
guidance
STL
spread
140
coupon
4.75%
spread set
-
price
99.57500
yield
4.823%
book size (m)
2,000
peak book (m)
2,300
x-covered
4
book attrition
-13.04%
nic
20
billing & delivering
JPM
active leads
BNP, JPM, MBC
joint leads
AXI, CTI, DEU, EFG, ...
passive leads
-
co-managers
-
coordinating managers
MBC
book size (m)
2,000
peak book (m)
2,300
x-covered
4
book attrition
-13.04%
nic
20
billing & delivering
JPM
active leads
BNP, JPM, MBC
joint leads
AXI, CTI, DEU, EFG, ...
passive leads
-
co-managers
-
coordinating managers
MBC
Tranche Comments
Book size: 2000; Registration: Reg S Only; Comments: 154.9bps vs DBR 3.3 11/15/33 (@100.15 / 3.274%) HR: 93%. MWC: B+25. CoC: Yes. Clean-Up Call: 80%. LEI: 2138003TO2MTRHWVP686;
Use of Proceeds
The net proceeds of the issue of the Notes will be used for general corporate purposes
Relative Value

7yr (Oct 2033) @ MS+165-170

Implied Spread for fresh 7yr @ MS+120
Priced at MS+140
NIC of +20

Hide Details

Commentary

All Commentary
CreditFlow: End of Day (Europe IG)Oct 26, 2026
1 to 1 of 1

Deal Flow

All Deal Flow
PRICED: GEK TERNA €500m 7yr Sr Unsec; MS+140bpOct 26, 2026
ALLOCATIONS OUT: GEK TERNA €500m 7yr Sr Unsec; MS+140bpOct 26, 2026
LAUNCHED: GEK TERNA €500m 7yr Sr Unsec; MS+140bpOct 26, 2026
UPDATE (BOOKS): GEK TERNA €500m (WNG) 7yr Sr Unsec; MS+165/170bpOct 26, 2026
NEW ISSUE: GEK TERNA €500m (WNG) 7yr Sr Unsec; MS+165/170bpOct 26, 2026
MANDATE: GEK TERNA Inv Calls; Reg S €500m WNG 7yr Sr Unsec Offering May FollowOct 19, 2026
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About
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Global Issuers List
Global Parents List
Pricing
OpenMarket Profiles
Career Portal
CapEdge
CreditFlow
Deal Roadshow
DealVDR
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More
Americas
+1 888 997 6610
APAC
+852 3018 1600
EMEA
+44 80817 87364
support@creditflowresearch.com
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