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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
SSA
PRCD
UKT
United Kingdom of Great Britain and Northern Ireland£6,250
1EMEA
Mar 10, 2026
currency
GBP
size (m)
6,250.000
maturity
Mar 7, 2037
type
Fixed
tenor
11.000
call
-
registration
SEC Registered
benchmark
G
ranking
Sr. Unsecured
moody's
Aa3
s&p
AA
fitch
AA-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-0.25
guidance
G+10.75-11.25
spread
10.75
coupon
4.625%
spread set
-
price
99.22100
yield
4.7167%
book size (m)
80,000
peak book (m)
-
x-covered
12.8
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
80,000
peak book (m)
-
x-covered
12.8
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 80000; First Pay: 2026-09-07; Registration: SEC Registered; Comments: GBP6.25bn 11yr Green cpn 4.625% at 99.221, yld 4.7167%. Stread: UKT+10.75. UKT 4 1/4% Treasury Stock 7-Mar-2036 (GB0032452392) Ref Spot @ 97.15% / 4.6092% Hedge at 97.150% (HR 109%). LEI: ECTRVYYCEF89VWYS6K36;
Deal Comments
Reoffer: 11yr: UKT+10.75bp / 99.221 / 4.7167% Benchmark: 11yr: UKT 4.25% 7-Mar-36 @ 97.15% / 4.6092% / HR 109% Final Books: Final orderbook closed in excess of £80bn (including JLM interest of £6bn) Launched: 11yr: £6.25bn @ UKT+10.75bp - Orderbook (pre-rec) in excess of £79bn (incl. £6bn JLM) IPTs: 11yr: UKT+10.75/+11.25bp Issuer: United Kingdom LEI: ECTRVYYCEF89VWYS6K36 Rating: Aa3/AA/AA- (Moody's/S&P/Fitch) (stab, stab, stab) Format: Reg S, Registered Form, Fixed Rate Notes Size: £6.25bn Maturity: 7-Mar-37 Expected Settlement Date: 11-Mar-26 (T+1) Coupon: 4 5/8% SA, ACT/ACT, short 1st to 7-Sep-26 Benchmark: UKT 4 1/4% Treasury Stock 7-Mar-36 (GB0032452392) Ref Spot @ 97.15% / 4.6092% Hedge at 97.150% (HR 109%) Spread: UKT 4 1/4% Treasury Stock 7-Mar-36 +10.75bp Reoffer: 99.221% / 4.7167% Denoms: £0.01 Listing: FCA Official List / London Stock Exchange (Main Market) Law: English Law Docs: Issuer's Stand-Alone Documentation Target Market: UK MiFIR Eligible counterparties, Professional clients, and retail clients only (all distribution channels) MIFID II Eligible counterparties and professional clients (all distribution channels) ISIN: GB00BVP99905 Joint Leads: Barclays, BNP Paribas, Citi, HSBC (B&D/DM), J.P. Morgan, and NatWest Timing: TOE 11.35 UK, FTT immediately Use of Proceeds: Proceeds allocated towards Eligible Green Expenditures in accordance with the UK Government Green Financing Framework
Use of Proceeds
Proceeds allocated towards Eligible Green Expenditures in accordance with the UK Government Green Financing Framework

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