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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
HLTH
PRCD
GALDSW
Galderma Finance Europe BV€500
1EMEA
Mar 10, 2026
currency
EUR
size (m)
500.000
maturity
Mar 17, 2031
type
Fixed
tenor
5.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
BBB
size description
Will Not Grow
re-open/tap
No
ipt
MS+115-120
ipt-pxd
-37.5
guidance
MS+85 area
spread
80
coupon
3.375%
spread set
-
price
99.84600
yield
3.409%
book size (m)
3,100
peak book (m)
3,700
x-covered
6.2
book attrition
-16.22%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,100
peak book (m)
3,700
x-covered
6.2
book attrition
-16.22%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3100; Registration: Reg S Only; Comments: EUR500m NG 5yr fxd cpn 3.375%, at 99.846, yld 3.409%, Spread: MS+80bps. OBL 2 ½ 04/16/31 (#193) @ 100.012 / B+91.4bps / HR (95%). MWC: B+15, Par Call: 3m, CoC: Yes. Tax Call: Yes. Clean-up Call: 80%. LEI: 7245004RN4I1ORSTHY93 ;
Deal Comments
Reoffer: 5yr: MS+80bp / 99.846 / 3.409% Benchmark: OBL 2½ 16-Apr-31 (#193) @ 100.012 / B+91.4bp / HR 95% Final Books: €3.1bn+. Peak books in excess of €3.7bn (pre-rec) Guidance: 5yr: MS+85bp area - Orderbooks in excess of €3.7bn (pre-rec) IPTs: 5yr: MS+115/120bp Issuer: Galderma Finance Europe B.V. Issuer LEI: 7245004RN4I1ORSTHY93 Guarantor: Galderma Group AG (Ticker: GALDSW; Country: CH) Guarantor LEI: 89450001OK6O8ELQ4584 Guarantor Ratings: BBB (Positive) / BBB (stable) (S&P/Fitch) Expected Issue Ratings: BBB / BBB (S&P/Fitch) Format: Reg S Bearer Status: Senior, Unsecured Issue Date: 10-Mar-26 Settlement: 17-Mar-26 (T+5) Maturity: 17-Mar-31 Size: €500m Reoffer: MS+80bp / 99.846 / 3.409% Benchmark: OBL 2½ 16-Apr-31 (#193) @ 100.012 / B+91.4bp / HR 95% Coupon: 3.375% Fixed, Annual, Act/Act ICMA, following business day convention unadjusted Early Redemption: Tax Call / Make-Whole Call @ B+15bp / Change of Control / Clean-up Call (80%) / 3m Par Call ISIN: XS3310319689 Docs: Preliminary stand-alone prospectus dated 10-Mar-26 / €100k+1k / Swiss Law Listing: SIX Swiss Exchange Active Bookrunners: Citigroup (B&D), ING, J.P. Morgan, RBC Capital Markets UoP: General Corporate Purposes and the refinancing of existing indebtedness Selling Restrictions: Reg S Cat 1, EEA, UK, Singapore, Canada – please refer to the Prospectus for a detailed overview. TEFRA D. The Notes will be subject to US tax law requirements TOE: 14:53 UKT / 15:53 CET FTT: 15:15 UKT / 16:15 CET
Guarantor(s)
Galderma Group AG
Use of Proceeds
General Corporate Purposes and the refinancing of existing indebtedness

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