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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
BSTLAF
Banque Stellantis France (fka PSA Banque France)€500
1EMEA
Nov 3, 2026
currency
EUR
size (m)
500.000
maturity
Nov 10, 2028
type
Fixed
tenor
2.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Senior Preferred
moody's
A3
s&p
BBB+
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
MS+125-130
ipt-pxd
-30.5
guidance
STL
spread
97
coupon
4.25%
spread set
-
price
99.85900
yield
4.325%
book size (m)
2,100
peak book (m)
2,100
x-covered
4.2
book attrition
0.00%
nic
7
billing & delivering
active leads
HSB, LLY, SMB, SNT, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,100
peak book (m)
2,100
x-covered
4.2
book attrition
0.00%
nic
7
billing & delivering
active leads
HSB, LLY, SMB, SNT, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2100; Registration: Reg S Only; Comments: OBL 2.4 10/19/28 @ 98.780 / B+127.3bps / HR 101%. MWC: B+20. LEI: 969500JK1O192KI3E882;
Use of Proceeds
General Corporate Purposes
Relative Value

Senior Preferred SP
2yr (Nov 2028) @ MS+135a

Implied Spread for fresh 2yr @ MS+90
Priced at MS+97
NIC of +7

COMPS

Ticker

Issue Date

EUR MM

CPN

Maturity

Yrs

I+ Bid

BSTLAF

21/07/2023

500

4

21/01/2027

0.2

61

BSTLAF

19/01/2024

500

3.5

19/07/2027

0.7

39

BSTLAF

20/01/2025

500

3.125

20/01/2028

1.2

59

BSTLAF

19/01/2026

500

2.875

19/01/2029

2.2

87

AYVFP

24/01/2024

1000

3.875

24/01/2028

1.2

68

AYVFP

16/04/2026

750

3.375

16/04/2029

2.5

70

AYVFP

16/07/2024

750

3.875

16/07/2029

2.7

73

AYVFP

19/02/2025

500

3.25

19/02/2030

3.3

80

AYVFP

19/01/2026

750

3

18/04/2030

3.5

75

AYVFP

24/01/2024

500

4

24/01/2031

4.2

83

AYVFP

23/06/2026

500

3.5

23/06/2032

5.6

86

LEASYS

01/03/2024

500

3.875

01/03/2028

1.3

82

LEASYS

25/10/2024

500

3.375

25/01/2029

2.2

75

LEASYS

28/10/2026

500

4.35

28/10/2029

3

92

LEASYS

27/07/2026

750

3.7

27/07/2030

3.7

93