Bayer AG (BAYNGR)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	HLTH	PRCD	BAYNGR	Bayer AG	€4,000		4	EMEA	Jan 7, 2021

Tranche #1Bayer AG

currency

EUR

size (m)

1,200.000

maturity

Jan 12, 2025

type

Fixed

tenor

4.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB

fitch

BBB+

re-open/tap

ipt

MS+80 a

ipt-pxd

guidance

MS+55-60

spread

coupon

0.05%

spread set

price

100.14800

yield

0.013%

book size (m)

3,200

peak book (m)

x-covered

2.67

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

3,200

peak book (m)

x-covered

2.67

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Bayer AG

currency

EUR

size (m)

1,000.000

maturity

Jan 12, 2029

type

Fixed

tenor

8.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB

fitch

BBB+

re-open/tap

ipt

MS+105 a

ipt-pxd

guidance

MS+85 a

spread

coupon

0.375%

spread set

price

99.37300

yield

0.455%

book size (m)

2,700

peak book (m)

x-covered

2.7

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,700

peak book (m)

x-covered

2.7

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #3Bayer AG

currency

EUR

size (m)

1,000.000

maturity

Jul 12, 2031

type

Fixed

tenor

10.500

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB

fitch

BBB+

re-open/tap

ipt

MS+120 a

ipt-pxd

guidance

MS+100 a

spread

coupon

0.625%

spread set

price

99.02300

yield

0.722%

book size (m)

2,800

peak book (m)

x-covered

2.8

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,800

peak book (m)

x-covered

2.8

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #4Bayer AG

currency

EUR

size (m)

800.000

maturity

Jan 12, 2036

type

Fixed

tenor

15.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB

fitch

BBB+

re-open/tap

ipt

MS+135 a

ipt-pxd

guidance

MS+115 a

spread

110

coupon

spread set

price

99.10300

yield

1.065%

book size (m)

2,500

peak book (m)

x-covered

3.13

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,500

peak book (m)

x-covered

3.13

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

4 yr: Book size: 3200; Registration: Reg S Only; Comments: 4yr EUR1.2bn. Part of 4-tr. Baa1/BBB/BBB+. Barc/HSBC(B&D)/Santan. IPTs MS+80 area, guidance MS+55/+60 for exp 1bn, launch 1.2bn at MS+50, bk >3.2bn pre rec (peak ~3.5bn). MWC B+15, 1mPC. B+75.1 v 0% 10/24 @ 102.83 HR 103%. FTT 7.30am Fri. LEI: 549300J4U55H3WP1XT59.; 8 yr: Book size: 2700; Registration: Reg S Only; Comments: 8yr EUR1bn. Part of 4-tr. Baa1/BBB/BBB+. Barc/HSBC(B&D)/Santan. IPTs MS+105 area, guidance MS+85 area for exp 1bn, launch 1bn at MS+78, bk >2.7bn pre rec. MWC B+20, 3mPC. B+110.8 v 0.25% 8/28 @ 107.05 HR 96%. FTT 7.30am Fri. LEI: 549300J4U55H3WP1XT59.; 10.5 yr: Book size: 2800; Registration: Reg S Only; Comments: 10.5yr EUR1bn. Part of 4-tr. Baa1/BBB/BBB+. Barc/HSBC(B&D)/Santan. IPTs MS+120 area, guidance MS+100 area for exp 1bn, launch 1bn at MS+93, bk >2.8bn pre rec. MWC B+20, 3mPC. B+123.6 v 0% 2/31 @ 105.34 HR94%. FTT 7.30am Fri. LEI: 549300J4U55H3WP1XT59.; 15 yr: Book size: 2500; Registration: Reg S Only; Comments: 15yr EUR800m. Part of 4-tr. Baa1/BBB/BBB+. Barc/HSBC(B&D)/Santan. IPTs MS+135 area, guidance MS+115 area for exp 750m, launch 800m @ MS+110, bk >2.5bn pre rec, MWC B+25, 3mPC. B+141.4 v 0% 5/35@ 105.14 HR91%. FTT 7.30am Fri. LEI: 549300J4U55H3WP1XT59;

Use of Proceeds

General corporate purposes

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