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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
IDSLN
IDS Financing PLC€1,400
2EMEA
Sep 24, 2025
currency
EUR
size (m)
650.000
maturity
Oct 1, 2029
type
Fixed
tenor
4.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB-
fitch
-
size description
-
re-open/tap
No
ipt
MS+140-150
ipt-pxd
-
guidance
MS+110 area
spread
103
coupon
3.25%
spread set
-
price
99.62800
yield
3.351%
book size (m)
3,250
peak book (m)
-
x-covered
5
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
3,250
peak book (m)
-
x-covered
5
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
currency
EUR
size (m)
750.000
maturity
Oct 1, 2032
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB-
fitch
-
size description
-
re-open/tap
No
ipt
MS+190-200
ipt-pxd
-
guidance
MS+155 area
spread
148
coupon
4.00%
spread set
-
price
99.91000
yield
4.015%
book size (m)
3,900
peak book (m)
-
x-covered
5.2
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
3,900
peak book (m)
-
x-covered
5.2
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 3250; Registration: Reg S Only; Comments: EUR650m 4yr cpn 3.25% at 99.628, yld 3.351%. Spread: MS.103bps. DBR 0.0 08/29 (@91.940) +116.4bps / HR 105%. Clean-Up Call: 80%. CoC: Yes. MWC: B+20bp .LEI: 2549003WF29F1G7TM942; Book size: 3900; Registration: Reg S Only; Comments: EUR750m 7yr cpn 4.00% at 99.910 yld 4.015%. Spread: MS+148bps. DBR 1.7 08/32 (@95.110) +153.4bps / HR 99%. Clean-Up Call: 80%. CoC: Yes. MWC: B+25bp.LEI: 2549003WF29F1G7TM942;
Deal Comments
The deal was upsized from EUR1.3bn to EUR1.4bn
Guarantor(s)
International Distribution Services Ltd, General Logistics Systems BV
Use of Proceeds
General corporate purposes, including the provision of loans to members of the Group and distribution to the shareholder of IDS, EP UK BidCo Ltd, for the purpose of refinancing of its existing indebtedness

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