Book size: 4200; Registration: Reg S Only; Comments: EUR500m NG 7yr, cpn 3.821% at 100, yld 3.821%. Spread: MS+125. DBR 2.3% Feb-33 @ 98.655 (HR 96%). CoC: 100%. Par Call: 3m. Clean-Up Call: 80%. MWC: B+20. LEI: 2138005RN5XYLTF8G138;
Deal Comments
Reoffer: 7yr: MS+125bp / 100.000 / 3.821%
Benchmark: 7yr: DBR 2.3% Feb-33 @ 98.655 / B+130.9bp (HR 96%)
Launched: 7yr: €500m @ MS+125bp (Books north of €3.3bn)
IPTs: 7yr: MS+155bp area
Issuer: The Sage Group plc
Ticker: SGELN
Country: GB
Issuer LEI: 2138005RN5XYLTF8G138
Guarantor: Sage Treasury Company Limited
Guarantor LEI: 2138006TSK7BN1MDC772
Issuer Rating: BBB+ Stable (S&P)
Exp. Issue Rating: BBB+ (S&P)
Format: Reg S Bearer, NGN, TEFRA D rules apply (no communications with or into the U.S.)
Ranking: Senior, Unsecured
Size: €500m
Settlement: 25-Feb-26 (T+5)
Maturity: 25 February 2033 (7 year)
Reoffer: 100.000 / MS+125bp / 3.821% yield / B+130.9bp
Coupon: 3.821%, Fixed, Annual, Act/Act (ICMA)
Ref Bmk: DBR 2.3% Feb-33 @ 98.655 (HR 96%)
Denoms: €100k x 1k
Early Redemption: 3-month Par Call / MWC B+20 / CoC (100%) / Clean-Up Call (80%)
Documentation: EMTN Base Prospectus dated 5 February 2026
Listing: London Stock Exchange (Main Market)
Governing Law: English Law
Clearing: Euroclear / Clearstream Luxembourg
ISIN: XS3304304945
UoP: General Corporate Purposes
Joint Bookrunners: BofA(B&D) / HSBC / Lloyds / Standard Chartered Bank / TD Securities
Selling Restrictions: US: Regulation S (Category 2) only; TEFRA D and as per Base Prospectus
Canadian Sales: Offers/sales into Ontario/Alberta/British Columbia only, subject to compliance with applicable law
UK MiFIR Target Market/PRIIPs: Eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) or UK PRIIPs KID has been prepared as not available to retail in the EEA or the UK.
Stabilisation: Relevant stabilisation regulations including FCA / ICMA will apply.
Advertisement: This communication is an advertisement for the purposes of Prospectus Rules: Admission to Trading on a Regulated Market. It is not a prospectus. The Base Prospectus is available at https://www.rns-pdf.londonstockexchange.com/rns/9614R_1-2026-2-5.pdf and the Final Terms, when published, will be available at www.londonstockexchange.com/exchange/news/market-news/market-news-home.html
Timing: PRICED / ToE: 15.17 / FTT: 15.45 UKT