National Gas Transmission PLC (NGTRAN)

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National Gas Transmission PLC (NGTRAN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	NGTRAN	National Gas Transmission PLC	-		2	EMEA	Mar 29, 2023

Tranche #1National Gas Transmission PLC

currency

EUR

size (m)

550.000

maturity

Apr 5, 2030

type

Fixed

tenor

7.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

A-

size description

re-open/tap

ipt

MS+160 a

ipt-pxd

guidance

MS+135 a

spread

130

coupon

4.25%

spread set

price

99.96400

yield

4.256%

book size (m)

2,850

peak book (m)

x-covered

5.18

book attrition

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

2,850

peak book (m)

x-covered

5.18

book attrition

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche #2National Gas Transmission PLC

currency

GBP

size (m)

250.000

maturity

Apr 5, 2035

type

Fixed

tenor

12.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

A-

size description

re-open/tap

ipt

G+235 a

ipt-pxd

guidance

G+210

spread

208

coupon

5.75%

spread set

price

99.88300

yield

5.683%

book size (m)

1,500

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

1,500

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche Comments

7 yr: Book size: 2850; Registration: Reg S Only; Comments: EUR550m 7yr part of 2-tr bmk snr unsec RegS. Baa1/NR/A-/. BNPP(Log, 7yr B&D)/Lloyds/MUFG/NatWest(12yr B&D)/RBC. IPTs exp EUR500m 7yr MS+160 area. Guidance MS+135 area (+/-5 WPIR). Launch 550m at MS+130. Final books 2.85bn+. DBR 0% 02/30, B+ 201.7 (85.87 bid, HR 103%). Par Call: 3m. MWC: G+30bp. LEI: FPCHGTHKVH9ZWXS7S453; 12 yr: Book size: 1500; Registration: Reg S Only; Comments: GBP250m 12yr part of 2-tr bmk snr unsec RegS. Baa1/NR/A-/. BNPP(Log, 7yr B&D)/Lloyds/MUFG/NatWest(12yr B&D)/RBC. IPTs exp GBP250m 12yr G+235 area. Guidance G+210 (+/-2 WPIR). Launch 250m at G+208. Final books 1.5bn+. UKT 0.625% 07/35 (70.545 mid, 70.495 bid, HR 107%). Par Call: 3m. MWC: G+35bp. LEI: FPCHGTHKVH9ZWXS7S453;

Deal Comments

Joint Bookrunners: BNP (B&D) (7yr), LLY (B&D) (12yr), MUF, NTW, RBC

Use of Proceeds

General Corporate Purposes

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National Gas Transmission PLC (NGTRAN)

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