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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
COND
PRCD
KERFP
Kering SA€3,800
4EMEA
Aug 29, 2023
currency
EUR
size (m)
750.000
maturity
Sep 5, 2025
type
Fixed
tenor
2.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
A
fitch
-
size description
-
re-open/tap
No
ipt
MS+30-35
ipt-pxd
-
guidance
-
spread
10
coupon
3.75%
spread set
-
price
99.91300
yield
3.796%
book size (m)
1,500
peak book (m)
-
x-covered
2
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,500
peak book (m)
-
x-covered
2
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
750.000
maturity
Sep 5, 2027
type
Fixed
tenor
4.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
A
fitch
-
size description
-
re-open/tap
No
ipt
MS+55-60
ipt-pxd
-
guidance
-
spread
35
coupon
3.625%
spread set
-
price
99.93000
yield
3.644%
book size (m)
1,400
peak book (m)
-
x-covered
1.87
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,400
peak book (m)
-
x-covered
1.87
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
1,000.000
maturity
Sep 5, 2031
type
Fixed
tenor
8.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
A
fitch
-
size description
-
re-open/tap
No
ipt
MS+85-90
ipt-pxd
-
guidance
-
spread
65
coupon
3.625%
spread set
-
price
99.21100
yield
3.741%
book size (m)
2,000
peak book (m)
-
x-covered
2
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,000
peak book (m)
-
x-covered
2
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
1,300.000
maturity
Sep 5, 2035
type
Fixed
tenor
12.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
A
fitch
-
size description
-
re-open/tap
No
ipt
MS+105-110
ipt-pxd
-
guidance
-
spread
85
coupon
3.875%
spread set
-
price
99.29400
yield
3.95%
book size (m)
2,400
peak book (m)
-
x-covered
1.85
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,400
peak book (m)
-
x-covered
1.85
book attrition
-
nic
-
billing & delivering
-
active leads
-
joint leads
BNP, CAG, CMZ, HSB, ...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
2 yr: Book size: 1500; Registration: Reg S Only; Comments: EUR750m 2yr bmk snr unsec RegS. NR/A/NR. GloCos Uni(B&D 2yr/4yr)/BNPP/CA-CIB/Natx(B&D 8yr/12yr)/SG. Others in ticket. IPTs 2yr MS+30/+35. Set MS+10 exp 750m. Launch 750m. Final books 1.5bn+(peak 1.8bn). DBR 1% 08/25 (96.16), B+74.4. FTT: 5:15pm. Par Call: 1m. Cleanup Call: 75%. MWC: B+15bps. CoC: Yes. Acq Call: 100.5%. LEI: 549300VGEJKB7SVUZR78; 4 yr: Book size: 1400; Registration: Reg S Only; Comments: EUR750m 4yr bmk snr unsec RegS. NR/A/NR. GloCos Uni(B&D 2yr/4yr)/BNPP/CA-CIB/Natx(B&D 8yr/12yr)/SG. Others in ticket. IPTs 4yr MS+55/+60. Set MS+35 exp 750m. Launch 750m. Final books 1.4bn+(peak 1.6bn). DBR 0.5% 08/27 (92.23), B+105.2%. FTT: 5:15pm. Par Call: 2m. Cleanup Call: 75%. MWC: B+20bps. CoC: Yes. Acq Call: 100.5%. LEI: 549300VGEJKB7SVUZR78; 8 yr: Book size: 2000; Registration: Reg S Only; Comments: EUR1bn 8yr bmk snr unsec RegS. NR/A/NR. GloCos Uni(B&D 2yr/4yr)/BNPP/CA-CIB/Natx(B&D 8yr/12yr)/SG. Others in ticket. IPTs 8yr MS+85/+90. Set MS+65 exp 1bn-1.25bn. Launch 1bn. Final books 2bn+ (peak c.2.4bn). DBR 0% 08/31 (82.58), B+130.6. FTT: 5:15pm. Par Call: 3m. Cleanup Call: 75%. MWC: B+20bps. CoC: 100.5%. LEI: 549300VGEJKB7SVUZR78; 12 yr: Book size: 2400; Registration: Reg S Only; Comments: EUR1.3bn 12yr bmk snr unsec RegS. NR/A/NR. GloCos Uni(B&D 2yr/4yr)/BNPP/CA-CIB/Natx(B&D 8yr/12yr)/SG. Others in ticket. IPTs 12yr MS+105/+110. Set MS+85 exp 1bn-1.25bn. Launch 1.3bn. Final books 2.4bn+ (peak c.2.5bn). DBR 0% 05/35 (74.31), B+138.1. FTT: 5:15pm. Par Call: 3m. Cleanup Call: 75%. MWC: B+25bps. CoC: Yes. Acq Call: 100.5%. LEI: 549300VGEJKB7SVUZR78;
Deal Comments
Active Bookrunners: UNI(B&D) (2yr, 4yr), BNP, CAG, NAT(B&D) (8yr, 12yr), SOC, HSB, MUF, NTW, STC. Passive Bookrunners: CMZ, SMB
Use of Proceeds
M&A and general corporate purposes

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