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Asset Backed Securities
Consumer Staples
Food Retail
Parent Companies
Majid Al Futtaim Capital LLC
MAF Global Securities Ltd
MAF Global Securities Ltd (MAFUAE)
Deal Details
C/P
Industry
Status
Ticker(s)
Issuer(s)
Size(m)
Tranches
Region
Date
HYC
CONS
PRCD
MAFUAE
MAF Global Securities Ltd
$500
1
EMEA
Jun 23, 2022
Tranche #1
MAF Global Securities Ltd
BBG018C0NQL1
currency
USD
size (m)
500.000
maturity
-
type
Fixed Rate Reset
tenor
Perp
call
5.25
registration
Reg S Only
benchmark
Tsy
ranking
Subordinated
moody's
-
s&p
BB+
fitch
BB+
size description
-
re-open/tap
No
ipt
8.125%-8.25%
ipt-pxd
-
guidance
8.00% area
spread
489.3
coupon
7.875%
spread set
-
price
99.70200
yield
7.95%
book size (m)
1,000
peak book (m)
-
x-covered
2
book attrition
-
nic
-
left lead
STC
active leads
-
joint leads
ADC
,
CTI
,
EMN
,
FAB
,
...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,000
peak book (m)
-
x-covered
2
book attrition
-
nic
-
left lead
STC
active leads
-
joint leads
ADC
,
CTI
,
EMN
,
FAB
,
...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
P NC 5.25: Book size: 1000; First Pay: 2022-09-30; Redemption: 2027-09-30; Registration: Reg S Only; Comments: USD500m PNC5.25 green hybrid RegS. NR/BB+/BB+. GloCos Citi/HSBC(struct)/StCh(B&D), JBs ADCB/ENBD/1ADB. IPTs 8.125%-8.25%, FPG 8% area (+/-5 WPIR), launch 500m at 7.95% yld, bks subj >1bn (50m JLM), 50% equity credit expected. 3.057% (interpolated US$ 5.25y treasury rate) - T 2 ⅝ 05/31/27 @ 98-01+ / 3.054% / T 2 ¾ 05/31/29 @ 98-00+ / 3.070% + 489.3bp. FTT 8am Friday. LEI: 54930037VUDNYTS17017. Par Call: 3m. Cleanup Call: 75%. Reset Date: 2027-09-30. MWC: Yes. CoC: 100%;
Deal Comments
Green Hybrid Bond
Guarantor(s)
Majid Al Futtaim Properties LLC, Majid Al Futtaim Holding LLC
Use of Proceeds
To fund the tender offer
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