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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
CONS
PRCD
CCEP
Coca-Cola Europacific Partners PLC€600
1EMEA
Apr 30, 2026
currency
EUR
size (m)
600.000
maturity
May 8, 2032
type
Fixed
tenor
6.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
A3
s&p
-
fitch
A-
size description
-
re-open/tap
No
ipt
MS+100 area
ipt-pxd
-32
guidance
MS+70 area
spread
68
coupon
3.50%
spread set
-
price
99.46900
yield
3.60%
book size (m)
1,900
peak book (m)
2,500
x-covered
3.17
book attrition
-24.00%
nic
4
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,900
peak book (m)
2,500
x-covered
3.17
book attrition
-24.00%
nic
4
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1900; Registration: Reg S Only; Comments: 81.7bps vs DBR 0 15/02/2032 @85.320 / 2.783% (HR: 110%). Tax Call: Yes. Par Call: 3m. MWC: B+15. Clean-Up Call: 75%. LEI: 549300LTH67W4GWMRF57;
Deal Comments
Exp Size: EUR500m
Use of Proceeds
General corporate purposes (including, without limitation, the repayment of indebtedness from time to time)
Relative Value

Senior

6 year (May 2032) @ IPTs of MS+100 area

Implied Spread for fresh 6 year @ +64

Outstanding: spreads

  • 3.125%  3rd Jun 31 @ +55
  • 0.7% 12th Sept 2031 @ +62
  • 3.25% 21st Mar 2032 @ +62
  • 3.125% 25th Sept 2032 @ +71

Priced at MS+68

NIC of +4


€€€ CCEP 6yr EUR - Comparables €€€

(Pre-Announce Bid-side vs I-spread)

EUR Comps Ticker Issue Date Ratings Size (m) Coupon Maturity Tenor I+

COCA-COLA EUROPACIFIC CCEP Jun-25 A3/-/A- 500 3.125 Jun-31 5.1 55

COCA-COLA EUROPACIFIC CCEP Sep-19 A3/NR/A- 500 0.700 Sep-31 5.4 62

COCA-COLA EUROPACIFIC CCEP Sep-24 A3/-/A- 600 3.250 Mar-32 5.9 62

COCA-COLA EUROPACIFIC CCEP Sep-25 A3/-/A- 500 3.125 Sep-32 6.4 71

CCEP FINANCE IRELAND DAC CCEP May-21 A3/-/A- 1000 0.875 May-33 7.0 67