Reoffer: MS+100bp / 99.695 / 3.801%
Benchmark: DBR 2.3 15-Feb-33 @ 97.43 / B+108.9bp (HR 101%)
Launched: MS+100bp - Books in excess of €2.9bn
IPTs: MS+135a
Issuer: Vestas Wind Systems A/S (Ticker: VWSDC / Country: DK)
Issuer LEI: 549300DYMC8BGZZC8844
Issuer Rating: Baa2 (stable) by Moody's
Issue Rating (exp.): Baa2 by Moody's
Format: Senior Unsecured, Reg S Bearer, New Global Note
Tenor: 7.25-year
Settlement: 18-Mar-26 (T+5)
Maturity: 15-Jun-33 (7.25yr)
Size: €500m
Reoffer: MS+100bp / 3.801% / 99.695
Benchmark: DBR 2.3 15-Feb-33 (px: 97.43) +108.9bp (HR 101%)
Coupon: 3.750% Fixed, Annual, Act/Act (ICMA), Short First
Documentation: EUR 3.0bn EMTN Programme dated 15-May-25 and as supplemented 3-Mar-26
Opt. Redemptions: MWC B+20bp, Clean-up call (75%), 3m Par Call, Tax Call, CoC put
Denominations: €100k + 1k
UoP: General corporate purposes
Target Market: Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK
ISIN / Common Code: XS3310548105 / 331054810
Selling Restrictions: Reg. S, Compliance Category 2; TEFRA D as stipulated in the EMTN Prospectus dated 15-May-25, as supplemented 3-Mar-26
Listing: Euronext Dublin, Regulated Market
Governing law: English
Advertisement: The Base Prospectus and any Supplements are available and the Final Terms, when published, will be available at: https://live.euronext.com/en/markets/dublin/bonds/list
Bookrunners: Citi, HSBC, J.P. Morgan (B&D), SEB
Timing: TOE 15:33 CET / 14:33 UKT, FTT: 16:15 CET / 15:15 UK