Danone SA (BNFP)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	CONS	PRCD	BNFP	Danone SA	-		3	EMEA	Mar 25, 2026

Tranche #1Danone SA

currency

EUR

size (m)

700.000

maturity

Apr 1, 2030

type

Fixed

tenor

4.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

size description

re-open/tap

ipt

MS+90-95

ipt-pxd

-37.5

guidance

MS+55-60

spread

coupon

3.379%

spread set

price

100.00000

yield

3.379%

book size (m)

2,500

peak book (m)

3,650

x-covered

3.57

book attrition

-31.51%

nic

billing & delivering

active leads

,,,,

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,500

peak book (m)

3,650

x-covered

3.57

book attrition

-31.51%

nic

billing & delivering

active leads

,,,,

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Danone SA

currency

EUR

size (m)

500.000

maturity

Apr 1, 2034

type

Fixed

tenor

8.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

size description

re-open/tap

ipt

MS+120-125

ipt-pxd

-37.5

guidance

MS+85-90

spread

coupon

3.785%

spread set

price

100.00000

yield

3.785%

book size (m)

3,100

peak book (m)

3,500

x-covered

6.2

book attrition

-11.43%

nic

billing & delivering

active leads

,,,,

joint leads

passive leads

co-managers

coordinating managers

book size (m)

3,100

peak book (m)

3,500

x-covered

6.2

book attrition

-11.43%

nic

billing & delivering

active leads

,,,,

joint leads

passive leads

co-managers

coordinating managers

Tranche #3Danone SA

currency

GBP

size (m)

350.000

maturity

Oct 1, 2032

type

Fixed

tenor

6.500

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

size description

re-open/tap

ipt

G+105-110

ipt-pxd

-22.5

guidance

G+85-90

spread

coupon

5.325%

spread set

price

99.83000

yield

5.363%

book size (m)

1,500

peak book (m)

1,500

x-covered

4.29

book attrition

0.00%

nic

billing & delivering

active leads

,,,,

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,500

peak book (m)

1,500

x-covered

4.29

book attrition

0.00%

nic

billing & delivering

active leads

,,,,

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 2500; Registration: Reg S Only; Comments: EUR700m 4yr fxd cpn 3.379% at 100, yld 3.379%. Spread: MS+55bps. 74.9bps vs DBR 0.000% 02/15/30 @ 90.395 / 2.630% HR: 108%. Par Call: 2m. MWC: B+15. CoC: Yes. Clean-Up Call: 75%. LEI: 969500KMUQ2B6CBAF162; Book size: 3100; Registration: Reg S Only; Comments: EUR500m 8yr fxd cpn 3.785% at 100, yld 3.785%. Spread: MS+85bps. 93.2bps vs DBR 2.200% 02/15/34 @ 95.440 / 2.853% HR: 100%. Par Call: 3m. MWC: B+15. CoC: Yes. Clean-Up Call: 75%. LEI: 969500KMUQ2B6CBAF162; Book size: 1500; Registration: Reg S Only; Comments: GBP350m 6.5yr fxd cpn 5.325% at 99.83, yld 5.363%. Spread: G+85bps. 85bps vs UKT 4.250% 06/07/32 @ mid 98.960 (4.443% S/A) / 98.91 (bid) HR: 103%. Par Call: 3m. MWC: G+15. CoC: Yes. LEI: 969500KMUQ2B6CBAF162;

Use of Proceeds

General Corporate Purposes

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	LAUNCHED: Danone €1.2bn & £350m 4yr, 8yr & 6.5yr Senior; MS+55bp, MS+85bp & UKT+85bp	Mar 25, 2026
	UPDATE: Danone €1.2bn & £350m 4yr & 8yr + 6.5yr Senior; MS+55-60bp, MS+85-90bp & UKT+85-90bp	Mar 25, 2026
	NEW ISSUE: Danone € bmk 4yr & 8yr + £ bmk 6.5yr Senior; MS+90/95bp, MS+120/125bp & G+105/110bp	Mar 25, 2026

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Danone SA (BNFP)

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