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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
SSA
PRCD
EU
European Union (EU)€9,000
2EMEA
Apr 14, 2026
currency
EUR
size (m)
3,000.000
maturity
Jul 12, 2029
type
Fixed
tenor
3.250
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Aaa
s&p
AA+
fitch
AAA
size description
-
re-open/tap
Yes
ipt
-
ipt-pxd
-3
guidance
MS+5 area
spread
2
coupon
2.375%
spread set
-
price
98.64800
yield
2.820%
book size (m)
54,000
peak book (m)
-
x-covered
18
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
54,000
peak book (m)
-
x-covered
18
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
6,000.000
maturity
Oct 12, 2046
type
Fixed
tenor
20.000
call
-
registration
Reg S Only
benchmark
-
ranking
Sr. Unsecured
moody's
Aaa
s&p
AA+
fitch
AAA
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-2
guidance
EU 3.750% 10/45+7 area
spread
5
coupon
4.00%
spread set
-
price
98.78700
yield
4.090%
book size (m)
88,000
peak book (m)
-
x-covered
14.67
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
88,000
peak book (m)
-
x-covered
14.67
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 54000; Registration: Reg S Only; Comments: EUR3bn tap of 2.375% Jul-2029 cpn fxd 2.375% at 98.648, yld 2.820%. Spread: MS + 2 bps. OBL 2.1 04/12/29 #189 +19.5bps (HR 107%); Book size: 88000; Registration: Reg S Only; Comments: EUR6bn 20yr cpn fxd 4.00% at 98.787, yld 4.090%. Spread: EU 3.750% 10/45 + 5 bps. DBR 2.5 08/15/46 +55.8bps (HR 105%);
Deal Comments
Deal priced on April 14. Books above €54b for 2029 tap Books above €88b for 20Y new tranche. Distribution by geography for 2029 tap: UK 35% APAC 28% Nordics 11% Iberia 8% France 4% Italy 4% Belgium, Netherlands, Luxembourg 2% Germany 2% Middle East and Africa 2% Other Europe non EU 2% Americas 1% Other EU 1% Distribution by investor type for 2029 tap: Central banks, official institutions 51% Fund managers 22% Bank treasuries 17% Insurance and Pension funds 5% Hedge funds 3% Banks 2% Distribution by geography for 20Y tranche: UK 22% Belgium, Netherlands, Luxembourg 11% Iberia 11% Italy 9% Middle East and Africa 9% Nordics 9% Other EU 9% Germany 7% France 6% Other Europe non-EU 4% Asia 3% Distribution by investor type for 20Y tranche: Bank treasuries 30% Fund managers 29% Central banks, official institutions 23% Insurance and Pension funds 12% Banks 3% Hedge funds 3%