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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
MTRL
PRCD
SW
Smurfit Kappa Treasury ULC€500
1EMEA
Nov 18, 2025
currency
EUR
size (m)
500.000
maturity
Nov 24, 2031
type
Fixed
tenor
6.000
call
-
registration
SEC Registered
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
BBB
fitch
BBB+
size description
Will Not Grow
re-open/tap
No
ipt
MS+130 area
ipt-pxd
-
guidance
n/a - straight to launch
spread
100
coupon
3.489%
spread set
-
price
100.00000
yield
3.489%
book size (m)
3,600
peak book (m)
-
x-covered
7.2
book attrition
-
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,600
peak book (m)
-
x-covered
7.2
book attrition
-
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3600; Registration: SEC Registered; Comments: EUR500m 6yr Green fxd cpn 3.489% at par. Spread: MS+100bps. DBR 0 08/31s (DE0001102564) + 115.8bp (87.625). HR 109. MWC: B+20. Par Call: 3m. CoC: 100%. LEI: 635400B3DOXSWFOWJT40;
Deal Comments
Green Bond
Guarantor(s)
Smurfit Westrock plc
Use of Proceeds
To redeem the outstanding €750.0 million in aggregate principal amount of 1.500% Senior Notes due 2027 issued by the Issuer and refinance a portfolio of Eligible Green Projects

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