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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
ELISGP
Elis SA€600
1EMEA
Mar 16, 2026
currency
EUR
size (m)
600.000
maturity
Mar 23, 2032
type
Fixed
tenor
6.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa3
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
MS+145 area
ipt-pxd
-30
guidance
n/a - straight to launch
spread
115
coupon
3.875%
spread set
-
price
99.82100
yield
3.909%
book size (m)
2,000
peak book (m)
-
x-covered
3.33
book attrition
-
nic
-
billing & delivering
active leads
joint leads
-
passive leads
co-managers
-
coordinating managers
-
book size (m)
2,000
peak book (m)
-
x-covered
3.33
book attrition
-
nic
-
billing & delivering
active leads
joint leads
-
passive leads
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2000; Registration: Reg S Only; Comments: EUR600m(upsized from exp EUR500m) 6yr fxd cpn 3.875% at 99.821, yld 3.909%. Spread: MS+115bps. DBR 0% Feb32 (85.75) + 127.6bps / HR 106%. MWC: B+20. Par Call: 3m. CoC: Yes. Clean-up: 80%. LEI: 969500UX71LCE8MAY492;
Deal Comments
Reoffer: 6yr: MS+115bp / 99.821 / 3.909% Benchmark: 6yr: DBR 0% Feb-32 @ 85.75 / B+127.6bp / HR 106% Final Books: Above €2bn Launched: 6yr: €600m @ MS+115bp - Books above €2bn IPTs: 6yr: MS+145a Orig Exp. Size: EUR500m Issuer: Elis SA Ticker: ELISGP Country: FR Issuer Parent Ratings: Baa3 (stable) by Moody’s, BBB- (stable) by S&P, BBB (stable) by DBRS Expected Rating of the bonds: Baa3 (by Moody’s) Guarantor: M.A.J. Format: Senior Unsecured, Reg S Bearer (Cat2), Dematerialised Notes Pricing Date: 16-Mar-26 Settlement: 23-Mar-26 (T+5) Size: €600m Maturity: 23-Mar-32 (6Y) Reoffer: MS+115bp / 99.821 / 3.909% Spread vs DBR: DBR 0% Feb-32 (85.75) + 127.6bps / HR 106% Coupon: 3.875% Fixed, Annual, Act/Act (ICMA) Global Coordinators: BNP Paribas (B&D), Natixis, Société Générale Active Bookrunners: BNP Paribas (B&D), Crédit Agricole CIB, Commerzbank, Deutsche Bank, HSBC, Natixis, Société Générale Passive Bookrunners: BBVA, CIC CIB, La Banque Postale Docs: EMTN Programme dated 14-May-25 (as supplemented) / French Law / 3m Par Call / MWC (B+20) / Clean-up (80%) / CoC Denoms: €100k + 100k Listing: Euronext Paris UoP: General Corporate Purposes Target Market: The manufacturer target market (MIFID II/UK MIFIR product governance) is eligible counterparties and professional clients (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom ISIN / Common Code: FR0014016ZV3 / 331751405 Issuer LEI: 969500UX71LCE8MAY492 Selling Restrictions: As per EMTN Program dated 14-May-25 as supplemented Advertisement: The EMTN program, any supplements and the final terms will be available on the AMF website: https://www.amf-france.org and on the Issuer website: https://fr.elis.com/fr/groupe/relations-investisseurs/information-reglementee ToE: 14.37 UKT FTT: 15.00 UKT
Guarantor(s)
MAJ
Use of Proceeds
General Corporate Purposes

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