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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
RTOLN
Rentokil Initial PLC, Rentokil Initial Finance BV-
3EMEA
Jun 20, 2022
currency
EUR
size (m)
850.000
maturity
Jun 27, 2027
type
Fixed
tenor
5.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
-
size description
-
re-open/tap
No
ipt
MS+200 a
ipt-pxd
-
guidance
MS+180 a
spread
170
coupon
3.875%
spread set
-
price
99.58600
yield
3.968%
book size (m)
3,250
peak book (m)
-
x-covered
3.82
book attrition
-
nic
20
billing & delivering
active leads
-
joint leads
BAM, BOC, BRC, ING, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,250
peak book (m)
-
x-covered
3.82
book attrition
-
nic
20
billing & delivering
active leads
-
joint leads
BAM, BOC, BRC, ING, ...
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
600.000
maturity
Jun 27, 2030
type
Fixed
tenor
8.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
-
size description
-
re-open/tap
No
ipt
MS+230 a
ipt-pxd
-
guidance
MS+210 a
spread
200
coupon
4.375%
spread set
-
price
99.66300
yield
4.426%
book size (m)
2,750
peak book (m)
-
x-covered
4.58
book attrition
-
nic
20
billing & delivering
active leads
-
joint leads
BAM, BOC, BRC, ING, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,750
peak book (m)
-
x-covered
4.58
book attrition
-
nic
20
billing & delivering
active leads
-
joint leads
BAM, BOC, BRC, ING, ...
passive leads
-
co-managers
-
coordinating managers
-
currency
GBP
size (m)
400.000
maturity
Jun 27, 2032
type
Fixed
tenor
10.000
call
-
registration
Reg S Only
benchmark
G
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
-
size description
-
re-open/tap
No
ipt
G+275 a
ipt-pxd
-
guidance
G+260 a
spread
255
coupon
5.00%
spread set
-
price
98.37000
yield
5.147%
book size (m)
1,450
peak book (m)
-
x-covered
3.63
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
BAM, BOC, BRC, ING, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,450
peak book (m)
-
x-covered
3.63
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
BAM, BOC, BRC, ING, ...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
5 yr: Book size: 3250; Registration: Reg S Only; Comments: EUR850m snr unsec RegS. With GBP 10yr. -/BBB/-. BoC/Barc/BofA(log)/HSBC(B&D)/ING/Santan/SEB/WFS. IPTs 5yr MS+200 area, 8yr MS+230 area, combined bks >3.5bn (slight skew to 5yr). Guidance MS+180 area for 850m / MS+210 area for 600m, launch MS+170/+MS+200, bks 3.25bn/2.75bn, peak >3.6bn/>2.9bn, OBL 0% 04/16/2027 + 243.8bps (92.947) / DBR 0% 02/15/2030 + 279.9bps (88.380). FTT 8am Tues. LEI: 2549005WL1W9GJ5TM121. MWC: B+40bps. Par Call: 3m. Tax Call: Yes. CoC: Yes. Distribution: UK/Ire 28%, Ger/Aus/Switz 23%, Fr 22%, Benelux 18%, Nordics 6%, Other 3%. FM 74%, Ins/PF 13%, Bks/CB 11%, Other 2%.; 8 yr: Book size: 2750; Registration: Reg S Only; Comments: EUR600m snr unsec RegS. With GBP 10yr. -/BBB/-. BoC/Barc/BofA(log)/HSBC(B&D)/ING/Santan/SEB/WFS. IPTs 5yr MS+200 area, 8yr MS+230 area, combined bks >3.5bn (slight skew to 5yr). Guidance MS+180 area for 850m / MS+210 area for 600m, launch MS+170/+MS+200, bks 3.25bn/2.75bn, peak >3.6bn/>2.9bn, OBL 0% 04/16/2027 + 243.8bps (92.947) / DBR 0% 02/15/2030 + 279.9bps (88.380). FTT 8am Tues. LEI: 2549005WL1W9GJ5TM121. MWC: B+45bps. Tax Call: Yes. Par Call: 3m. CoC: Yes. Distribution: UK/Ire 40%, Fr 21%, Ger/Aus/Switz 19%, Benelux 13%, Nordics 5%, Other 2%. FM 67%, Ins/PF 27%, Bks/CB 6%.; 10 yr: Book size: 1450; Registration: Reg S Only; Comments: GBP400m 10yr snr unsec RegS. With EUR 5yr/8yr. -/BBB/-. BoC/Barc/BofA(log)/HSBC(B&D)/ING/Santan/SEB/WFS. IPTs Gilt 4.25% 6.32+275 area, guidance G+260 area for 400m, launch G+255. Bk 1.45bn, peak >1.55bn pre rec, Gilt @ 114.425 . FTT 8am Tues. LEI: 549300VN4WV7Z6T14K68. MWC: G+40bps. Par Call: 3m. Tax Call: Yes. CoC: Yes. Distribution: UK/Ire 93%, Ger/Aus/Switz 3%, Nordics 3%, Fr 1%. FM 65%, Ins/PF 30%, Bks/CB 5%.;
Deal Comments
Rentokil Initial Finance BV (5yr, 8yr)
Use of Proceeds
Refinancing and general corporate purposes

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