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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
INDS
PRCD
NEXFP
Nexans SA€575
1EMEA
May 22, 2024
currency
EUR
size (m)
575.000
maturity
May 29, 2029
type
Fixed
tenor
5.000
call
0.00
registration
Reg S Only
benchmark
-
ranking
Sr. Unsecured
moody's
NR
s&p
BB+
fitch
-
size description
-
re-open/tap
No
ipt
4.375% area
ipt-pxd
-
guidance
4.25% area
spread
172
coupon
4.125%
spread set
-
price
99.44700
yield
4.250%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Registration: Reg S Only;
Deal Comments
05/22/2024 Nexans SA (NEXFP) EUR575m (up from EUR500m (exp)) Reg S bearer fixed sr unsec notes due 05/29/29 (5y). NCL (MWC B+30bp) (3mo par call) (75% clean-up call). NR/BB+ (--/stable). Via GS (B&D) gloco/DB jt active books. List Euronext Paris. French law. Annual pay (Act/Act) starts 05/29/25. SMR at 101 if the La Triveneta Cavi acquisition has not closed by 12/31/24. Settles 05/29 (T+5). ISIN: FR001400Q5V0. IPT: 4.375% area. Guidance: 4.25% area. Final terms: EUR575m 4.125% at 99.447, yield 4.25%. Priced: 4.125% at 99.447, yield 4.25%. +172bp vs DBR 0.25% 02/15/29. Did a series of small group fixed income investor calls 05/21 (global investor call at 12:00 UKT / 13:00 CET 05/21). GS coordinated logistics. Books closed at 4pm (from 2pm) UKT 05/22. UOP: finance the acquisition of La Triveneta Cavi SpA and/or for GCP. Biz: leader in the design and manufacturing of cable systems and services and key driver for the world’s sustainable electrification, HQ: Paris, France. (Acquisition announced 02/09/2024.

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