Visa Inc (V)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	V	Visa Inc	€3,500		4	USOA	May 1, 2025

Tranche #1Visa Inc

currency

EUR

size (m)

1,250.000

maturity

May 15, 2028

type

Fixed

tenor

3.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Aa3

s&p

AA-

fitch

size description

re-open/tap

ipt

ipt-pxd

guidance

spread

coupon

2.250%

spread set

price

99.46200

yield

2.438%

book size (m)

3,000

peak book (m)

x-covered

2.4

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

3,000

peak book (m)

x-covered

2.4

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #2Visa Inc

currency

EUR

size (m)

1,000.000

maturity

May 15, 2033

type

Fixed

tenor

8.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Aa3

s&p

AA-

fitch

size description

re-open/tap

ipt

ipt-pxd

guidance

spread

coupon

3.125%

spread set

price

99.99300

yield

3.126%

book size (m)

1,900

peak book (m)

x-covered

1.9

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

1,900

peak book (m)

x-covered

1.9

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #3Visa Inc

currency

EUR

size (m)

650.000

maturity

May 15, 2037

type

Fixed

tenor

12.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Aa3

s&p

AA-

fitch

size description

re-open/tap

ipt

ipt-pxd

guidance

spread

105

coupon

3.50%

spread set

price

99.48000

yield

3.554%

book size (m)

1,400

peak book (m)

x-covered

2.15

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

1,400

peak book (m)

x-covered

2.15

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #4Visa Inc

currency

EUR

size (m)

600.000

maturity

May 15, 2044

type

Fixed

tenor

19.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Aa3

s&p

AA-

fitch

size description

re-open/tap

ipt

ipt-pxd

guidance

spread

140

coupon

3.875%

spread set

price

98.80100

yield

3.966%

book size (m)

1,250

peak book (m)

x-covered

2.08

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

1,250

peak book (m)

x-covered

2.08

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche Comments

3 yr: Book size: 3000; Registration: SEC Registered; Comments: EUR1.25bn 3yr cpn fxd 2.250% at 99.462, yld 2.438%. Spread: MS+48bps. +67.5bps vs. OBL 2.2% 04/13/28 (101.24) HR: 100%. Par Call: 1m. MWC: B+10. LEI: 549300JZ4OKEHW3DPJ59; 8 yr: Book size: 1900; Registration: SEC Registered; Comments: EUR1bn 8yr cpn fxd 3.125% at 99.993, yld 3.126%. Spread: MS+80bps. +85.4bps vs. DBR 2.3% 02/15/33 (100.19) HR: 99%. Par Call: 3m. MWC: B+15. LEI: 549300JZ4OKEHW3DPJ59; 12 yr: Book size: 1400; Registration: SEC Registered; Comments: EUR650m 12yr cpn fxd 3.50% at 99.480, yld 3.554%. Spread: MS+105bps. +97.1bps vs. DBR 4% 01/04/37 (114.11) HR: 89%. Par Call: 3m. MWC: B+15. LEI: 549300JZ4OKEHW3DPJ59; 19 yr: Book size: 1250; Registration: SEC Registered; Comments: EUR600m 19yr cpn fxd 3.875% at 98.801, yld 3.966%. Spread: MS+140bps. +117.2bps vs. DBR 3 ¼ 07/04/42 (106.145) HR: 93%. Par Call: 6m. MWC: B+20. LEI: 549300JZ4OKEHW3DPJ59;

Use of Proceeds

Refinancing and general corporate purposes

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