Provident Financial PLC (PFG)

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Provident Financial PLC (PFG)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	FNCL	PRCD	PFG	Provident Financial PLC	£200		1	EMEA	Oct 6, 2021

Tranche #1Provident Financial PLC

currency

GBP

size (m)

200.000

maturity

Jan 13, 2032

type

Fixed

tenor

10.250

call

registration

Reg S Only

benchmark

ranking

moody's

s&p

fitch

B+

size description

re-open/tap

ipt

Low 9%s

ipt-pxd

guidance

8.875%

spread

815.2

coupon

8.875%

spread set

price

100.00000

yield

8.858%

book size (m)

350

peak book (m)

x-covered

1.75

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

350

peak book (m)

x-covered

1.75

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

10.25 yr: Book size: 350; First Pay: 2022-07-13; Redemption: 2026-10-13; Registration: Reg S Only; Comments: GBP200m 10.25NC5.25 RegS Tier 2. -/-/B+. Barc(B&D)/CS. With tender offer for GBP250m 7% 2023s. IPTs low 9%s, guidance 8.875% (the #) for exp 175-200m, launch 200m, bk >335m, peak >375m , Initial/reset UKT+815.2 (UKT SPOT 0.706%);

Deal Comments

Tier 2

Use of Proceeds

Repay debt and general corporate purposes

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