APA Infrastructure Ltd (APAAU)

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APA Infrastructure Ltd (APAAU)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	ENGY	PRCD	APAAU	APA Infrastructure Ltd	€500		1	APAC	Nov 2, 2023

Tranche #1APA Infrastructure Ltd

currency

EUR

size (m)

500.000

maturity

Nov 9, 2083

type

Fixed

tenor

60.000

call

registration

Reg S Only

benchmark

ranking

moody's

Ba1

s&p

BB+

fitch

size description

re-open/tap

ipt

8.00% a

ipt-pxd

guidance

7.25-7.375%

spread

470.9

coupon

7.125%

spread set

price

yield

7.25%

book size (m)

4,800

peak book (m)

x-covered

9.6

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

4,800

peak book (m)

x-covered

9.6

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

60 yr: Book size: 4800; Redemption: 2029-02-09; Registration: Reg S Only; Comments: EUR500m 60NC5.25 hybrid bmk RegS. Ba1/BB+/NR. JPM(struc)/BNPP(log)/BofA(B&D). IPTs 8% area (annual yield) for exp 500m, guidance 7.5%-7.625% for 500m, revised 7.25%-7.375% wpir, launch 7.25%. Final books 4.8bn+, peak 5bn. DBR 0.25% Feb-29 + 470.9bps (88.82 / 2.541%). FTT 3:45pm. Tax Call: Yes. PP: Yes. Reset Date: 2029-02-09. Cleanup Call: 75%. Regulatory Call: Yes, Gross-Up Event. CoC: 101%. LEI: 261700SS8OEHDOCOUJ33. XD: No;

Deal Comments

Hybrid Bond

Guarantor(s)

APA Group Ltd

Use of Proceeds

Refinancing and general corporate purposes

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