Merck Financial Services GmbH (MRCG)

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Merck Financial Services GmbH (MRCG)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	HLTH	PRCD	MRCG	Merck Financial Services GmbH	€2,000		3	EMEA	Jul 1, 2019

Tranche #1Merck Financial Services GmbH

currency

EUR

size (m)

600.000

maturity

Feb 26, 2024

type

Fixed

tenor

4.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

A-

size description

re-open/tap

ipt

MS+50 a

ipt-pxd

guidance

MS+25-30

spread

coupon

0.005%

spread set

price

100.20900

yield

-0.042%

book size (m)

1,500

peak book (m)

x-covered

2.5

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

1,500

peak book (m)

x-covered

2.5

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #2Merck Financial Services GmbH

currency

EUR

size (m)

600.000

maturity

Feb 4, 2022

type

Fixed

tenor

8.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

A-

size description

re-open/tap

ipt

MS+75 a

ipt-pxd

guidance

MS+50 a

spread

coupon

0.375%

spread set

price

99.49000

yield

0.44%

book size (m)

2,300

peak book (m)

x-covered

3.83

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

2,300

peak book (m)

x-covered

3.83

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #3Merck Financial Services GmbH

currency

EUR

size (m)

800.000

maturity

Jan 10, 2021

type

Fixed

tenor

12.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

A-

size description

re-open/tap

ipt

MS+90 a

ipt-pxd

guidance

MS+65 a

spread

coupon

0.875%

spread set

price

99.70600

yield

0.901%

book size (m)

2,300

peak book (m)

x-covered

2.88

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

2,300

peak book (m)

x-covered

2.88

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche Comments

4 yr: Book size: 1500; Registration: Reg S Only; Comments: EUR600m long 4yr 0.005% snr unsec bmk. Part of 2bn 3-tr. Baa1/A/A-. CMZ/GS/JPM/SG(B&D)/Uni. IPTs MS+50 area, guide MS+25/30, launched 600m @ MS+25, bk >1.5bn (peaked >1.8bn), HR 100% vs OBL#178 0% 10/23+68 @103.15. MWC: B+10bp. Par Call: 3m; 8 yr: Book size: 2300; Registration: Reg S Only; Comments: EUR600m 8yr snr unsec bmk. Part of 2bn 3-tr. Baa1/A/A-. CMZ/GS/JPM/SG(B&D)/Uni. IPTs MS+75 area, guide MS+50 area, launched 600m @MS+45, bk >2.3bn (peaked >2.8bn). HR 97% vs DBR 0.25% Feb 2027+96.5 @106.04. Par Call: 3m. MWC: B+15bp. WKN A2YNSG; 12 yr: Book size: 2300; Registration: Reg S Only; Comments: EUR800m 12yr snr unsec EUR bmk. Part of 2bn 3-tr. Baa1/A/A-. CMZ/GS/JPM/SG(B&D)/Uni. IPTs MS+90 area, guide MS+65 area, launched 800m @MS+60, bk >2.3bn (peaked >2.8bn). HR 112% vs DBR 0.25% Feb 2029+125.7 @105.94. MWC: B+20bp. Par Call: 3m. WKN A2YNSH;

Guarantor(s)

Merck KGaA

Use of Proceeds

M&A

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