Solvay SA (SOLB)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	MTRL	PRCD	SOLB	Solvay SA	€300		1	EMEA	Nov 27, 2018

Tranche #1Solvay SA

currency

EUR

size (m)

300.000

maturity

type

Fixed

tenor

call

registration

Reg S Only

benchmark

Swaps

ranking

moody's

Ba1

s&p

BB+

fitch

size description

re-open/tap

ipt

4.50% a

ipt-pxd

guidance

4.375% a

spread

391.7

coupon

4.25%

spread set

price

100.00000

yield

4.254%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

P NC 5.25: Registration: Reg S Only; Comments: EUR300m no grow PNC5.25yr hybrid RegS. Issue Ba1/BB+ (snr Baa2/BBB). JGCs HSBC/JPM, JB(a) CS/ING, JB(p) BAML/CA-CIB/MUFG. IPTs 4.5% area, guidance 4.375% (+/- 12.5 WPIR) on bk >700m ahead of close, came 4.25%. Initial margin MS+391.7. FTT 4pm (Source: IFR);

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