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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
MELAIR
Australia Pacific Airports (Melbourne) Pty Ltd€650
1APAC
Mar 16, 2026
currency
EUR
size (m)
650.000
maturity
Mar 24, 2036
type
Fixed
tenor
10.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Secured
moody's
Baa1
s&p
BBB+
fitch
-
size description
-
re-open/tap
No
ipt
MS+150-155
ipt-pxd
-22.5
guidance
MS+130#
spread
130
coupon
4.25%
spread set
-
price
100.00000
yield
4.25%
book size (m)
1,250
peak book (m)
1,400
x-covered
1.92
book attrition
-10.71%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,250
peak book (m)
1,400
x-covered
1.92
book attrition
-10.71%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1250; Registration: Reg S Only; Comments: EUR650m 10yr fxd cpn 4.25% at 100, yld 4.25%. Spread: MS+130bps. 131.8bps vs DBR 2.900% due February 2036 @ 99.720 / HR 94%. MWC: B+20. Par Call: 3m. CoC: 101%. LEI: 549300AO4NFQPL3JBB37;
Deal Comments
Reoffer: 10yr: MS+130bp / 100 / 4.250% Benchmark: 10yr: DBR 2.900% Feb-36 @ 99.720 / B+131.8 / HR 94% Launched: €650m at NS+130bp - Books > €1.35bn Guidance: Spread Set MS+130bp -- Books > €1.4bn IPTs: 10.25yr: MS+150/155bp Issuer: Australia Pacific Airports (Melbourne) Pty Limited (ABN 62 076 999 114) (BBG Ticker: MELAIR / Country: AU) Issuer LEI: 549300AO4NFQPL3JBB37 Issuer Ratings: Baa1 (stable outlook) Moody’s / BBB+ (stable outlook) S&P Global Ratings Expected Issue Ratings: Baa1 / BBB+ (Moody’s / S&P) Format: Registered Status: Senior, Secured, Unsubordinated Distribution: Reg S, Cat2, TEFRA Not Applicable Settlement Date: 24-Mar-26 (T+6) Currency: EUR Size: €650m Tenor: 10 years Maturity Date: 24-Mar-36 Reoffer: 100.00 / MS+130bps / 4.250% Coupon: 4.250%; Fixed, Annual, ACT/ACT (ICMA) Reference Benchmark: 131.8bps vs DBR 2.900% due Feb-36 @ 99.720 / HR 94% Optional Redemption: Make-whole (B+20bps); 3 month Par Call Denominations: EUR 100,000/EUR 1,000 ISIN: XS3322475651 Common Code: 332247565 Change of Control: Yes, at 101% Negative Pledge: Applicable Cross Default: Applicable Use of Proceeds: To fund capital expenditure, repayment of indebtedness, working capital and for its general corporate purposes Documentation: As described in the Offering Circular dated 16-Mar-26 relating to the Issuer’s EUR5,000,000,000 Secured Euro Medium Term Note Programme (the “Offering Circular”) Governing Law: The Notes will be governed by English law Joint Lead Managers: BNP Paribas/Citi/Credit Agricole CIB/Goldman Sachs(B&D) Listing: Application will be made to list the Notes on the Singapore Exchange Securities Trading Limited (“SGX-ST”) Clearing: Euroclear/Clearstream MiFID II / UK MiFIR Product Governance (Target Market): MiFID II and UK MiFIR professionals/ECPs-only/No PRIIPs or UK PRIIPs KID - Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom Selling Restrictions: As set out in the Offering Circular Advertisement: The Offering Circular will be available on the website of the SGX-ST (https://www.sgx.com/). The Pricing Supplement in relation to the Notes when available, will be also published on the website of the SGX-ST Timing: PRICED – TOE 15:09 UKT / 16:09 CET, FTT 15:40 UKT / 16:40 CET
Use of Proceeds
To fund capital expenditure, repayment of indebtedness, working capital and for its general corporate purposes

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