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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
KBC
KBC IFIMA SA€1,000
1EMEA
Feb 16, 2026
currency
EUR
size (m)
1,000.000
maturity
Feb 24, 2028
type
Floating
tenor
2.000
call
-
registration
Reg S Only
benchmark
3mEu
ranking
Sr. Unsecured
moody's
A1
s&p
A+
fitch
A+
size description
-
re-open/tap
No
ipt
3mEu+55 area
ipt-pxd
-25
guidance
n/a - straight to launch
spread
30
coupon
3mEu+30
spread set
-
price
100.00000
yield
-
book size (m)
2,350
peak book (m)
3,000
x-covered
2.35
book attrition
-21.67%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,350
peak book (m)
3,000
x-covered
2.35
book attrition
-21.67%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2350; First Pay: 2026-05-24; Registration: Reg S Only; Comments: EUR1bn 2yr frn cpn 3mEu+30 at 100. Spread: 3mEu+30. Tax Call: Yes. LEI: 213800PN8BSF31FXFM06;
Deal Comments
Final Books in excess of €2.35bn. Books €3bn+ (pre-rec) Launched: 2y: €1bn @ 3mE+30bps IPTs: 2y: 3mE+55bps area Issuer: KBC Ifima S.A. (KBC Corp) LEI: 213800PN8BSF31FXFM06 Guarantor: KBC Bank NV (Unconditional and irrevocable senior guarantee) Ratings: A+/A1/A+ (S&P/Moody's/Fitch) Status: Senior Notes Unsecured, Bearer, Reg S Category 2 (Tefra D), NGN Size: €1bn Coupon Period: Quarterly Coupon Payment Dates: 24 May, 24 August, 24 November and 24 February of each year, from and including 24 May 2026 up to and including the Maturity Date Coupon Floor: Applicable. Floored at 0% Business Day Convention / Day Count Fraction: Modified Following Business Day Convention / Actual/360 Business Days: T2 Redemption for Tax Reasons (Tax Call): Callable upon Tax Event at the option of the Issuer at Par in whole, but not in part, subject to permission of the Relevant Regulator and/or the Resolution Authority Acknowledgement of Bail-in Power: Acknowledgement of Bail-in and Loss Absorption Powers, the possibility to substitute or vary the terms of the Notes, as deemed necessary by the Resolution Authority Redemption: 100 per cent. of the Nominal Amount Minimum Denomination / Increment: €100,000 and integral multiples of €100,000 in excess thereof UoP: General Corporate Purposes Target Market: MiFID II and UK MiFIR professionals/ECPs only (all distribution channels). No EU or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA and UK Documentation: Issuer's EMTN programme described in the Base Prospectus dated 17 July 2025; and as supplemented from time to time Listing: Luxembourg Stock Exchange Clearing: Euroclear SA/NV and Clearstream Banking S.A. Governing Law: English law, except that the ranking of claims in respect of the Guarantee shall be governed by Belgian law. Condition 2(c) of the Notes, Clause 6 of the Guarantee and any non-contractual obligations arising therefrom or in connection therewith shall be governed by, and construed in accordance with, Belgian law Joint Lead Managers: BBVA (B&D), BNP Paribas, Commerzbank, KBC Securities, NatWest ISIN: XS3299556996 Common Code: 329955699 Timing: ToE 13.36 CET // FTT 13.50 CET. Settlement 24/02/26 (T+6)
Guarantor(s)
KBC Bank NV
Use of Proceeds
General Corporate Purposes
Relative Value

COMPS

Issuer

Rating (M/S/F)

Issue Date

Mty Dt

Tenor

Coupon

Size(EURm)

DM+(bid)

NDAFH

Aa2/AA-/NR

Dec-25

Dec-27

1.9y

FRN

600

30

DANBNK

A1/A+/AA-

Nov-25

Nov-27

1.7y

FRN

1000

31

ABNANV

Aa3/A/A+

Jan-25

Jan-28

1.9y

FRN

1250

31

SHBASS

Aa2/AA-/AA+

Feb-26

Feb-29

3.0y

FRN

750

35

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