Valeo SE (FRFP)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	COND	PRCD	FRFP	Valeo SE	€600		1	EMEA	Oct 5, 2023

Tranche #1Valeo SE

currency

EUR

size (m)

600.000

maturity

Apr 12, 2029

type

Fixed

tenor

5.500

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa3

s&p

BB+

fitch

size description

re-open/tap

ipt

MS+280 a

ipt-pxd

guidance

MS+255 a

spread

250

coupon

5.875%

spread set

price

99.89400

yield

5.907%

book size (m)

1,300

peak book (m)

x-covered

2.17

book attrition

nic

27.5

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,300

peak book (m)

x-covered

2.17

book attrition

nic

27.5

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

5.5 yr: Book size: 1300; Registration: Reg S Only; Comments: EUR600m 5.5yr debut green bmk snr unsec RegS. Baa3/BB+/NR. GloCos CA-CIB(struc/log)/BNPP(B&D), actives Citi/MUFG/Natx/SG. IPTs MS+280 area (~6.25% area), guidance MS+255 area (+/-5 WPIR), launch MS+250 for 600m. Final books 1.3bn+ (peak 1.6bn+). DBR 0.25% 02/29 (87.74 / 2.743% / HR:100%), B+ 316.4. Par Call: 3m. Cleanup Call: 80%. CoC: Put. MWC: B+50bps. Distribution: Fr 32%, Benelux 31%, Ger/Aus/Switz 16%, UK 16%, S.Eur 4%, Other 1%. AM 56%, CB/OI 25%, Bks/PB 8%, Ins/PF 5%, HF 4%, Other 2%. LEI: 5493006IH2N2WMIBB742;

Deal Comments

Green Bond

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Valeo SE (FRFP)

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