Book size: 2100; First Pay: 2026-07-16; Registration: SEC Registered; Comments: EUR1bn 30.25yr NC5.25, Hybrid fxd-to-frn cpn 4.75% at 99.454, yld 4.875%. Spread: MS+202.4bps. 216.2bps vs OBL 2.5 04/16/31 @99.00. Tax Call: Yes. Par Call: 3m. MWC: B+35. CoC: 101%. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 2TGYMUGI08PO8X8L6150;
Book size: 1600; First Pay: 2026-07-16; Registration: SEC Registered; Comments: EUR700m 30.25yr NC8.25, Hybrid fxd-to-frn cpn 5.25% at 99.21, yld 5.375%. Spread: MS+239bps. 247.1bps vs DBR 2.2 02/15/34 @95.12. Tax Call: Yes. Par Call: 3m. MWC: B+40. CoC: 101%. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 2TGYMUGI08PO8X8L6150;
Use of Proceeds
The Issuer currently intends to use the net proceeds of this offering to repay outstanding senior indebtedness (which may include the €250 million aggregate principal amount outstanding of its floating rate senior notes due April 22, 2026, the $750 million aggregate principal amount outstanding of its 3.200% senior notes due February 10, 2027, and a portion of its outstanding commercial paper) and for other general corporate purposes.