APT Pipelines Ltd (AUPIP)

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APT Pipelines Ltd (AUPIP)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	ENGY	PRCD	AUPIP	APT Pipelines Ltd	-		3	APAC	Mar 9, 2021

Tranche #1APT Pipelines Ltd

currency

EUR

size (m)

600.000

maturity

Mar 15, 2029

type

Fixed

tenor

8.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

MS+100 a

ipt-pxd

guidance

MS+90

spread

coupon

0.75%

spread set

price

99.65300

yield

0.795%

book size (m)

800

peak book (m)

x-covered

1.33

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

800

peak book (m)

x-covered

1.33

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2APT Pipelines Ltd

currency

EUR

size (m)

500.000

maturity

Mar 15, 2033

type

Fixed

tenor

12.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

MS+125 a

ipt-pxd

guidance

MS+115

spread

115

coupon

1.25%

spread set

price

99.51400

yield

1.294%

book size (m)

750

peak book (m)

x-covered

1.5

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

750

peak book (m)

x-covered

1.5

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #3APT Pipelines Ltd

currency

GBP

size (m)

250.000

maturity

Mar 15, 2036

type

Fixed

tenor

15.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

G+160-165

ipt-pxd

guidance

G+150

spread

150

coupon

2.5%

spread set

price

99.40700

yield

2.532%

book size (m)

375

peak book (m)

x-covered

1.5

book attrition

nic

12.5

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

375

peak book (m)

x-covered

1.5

book attrition

nic

12.5

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

8 yr: Book size: 800; Registration: Reg S Only; Comments: EUR600m 8yr snr unsec RegS. With 12yr EUR, 15yr GBP. Baa2/BBB. BNPP/Citi(B&D)/HSBC/JPM. IPTs MS+100 area, set MS+90 for exp 600m, launch 600m, EUR bks >1.6bn (skew to 8y), peak >1.9bn. MWC B+20, 3mPC. B+123.8bps v DBR 0.25 02/29 (105.61). HR 92%. LEI: 261700SS8OEHDOCOUJ33; 12 yr: Book size: 750; Registration: Reg S Only; Comments: EUR500m 12yr snr unsec RegS. With 8yr EUR, 15yr GBP. Baa2/BBB. BNPP/Citi/(B&D)HSBC/JPM. IPTS MS+125 area, set MS+115 for exp 500m, launch 500m, EUR bks >1.6bn (skew to 8y), peak >1.9bn. MWC B+25, 3mPC. B+159.6bps v DBR 0.00 02/31 (103.05). HR 107%. LEI: 261700SS8OEHDOCOUJ33; 15 yr: Book size: 375; Registration: Reg S Only; Comments: GBP250m 15yr snr unsec RegS. With 8yr/12yr EUR. Baa2/BBB. BNPP/Citi(B&D)/HSBC/JPM. IPTs G+160/+165 vs 4.25% 3/36, set G+150 for exp 250m, launch 250m, bk >375m pre rec @final, peak >400m. MWC G+25, 3mPC. Gilt mid 144.59 / bid 144.53. HR 72%. FTT 4.30pm. LEI: 261700SS8OEHDOCOUJ33;

Use of Proceeds

Refinancing and general corporate purpose

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