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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
CFF
Compagnie De Financement Foncier SA (CFF)€600
1EMEA
May 5, 2026
currency
EUR
size (m)
600.000
maturity
May 12, 2036
type
Fixed
tenor
10.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
Aaa
s&p
AAA
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
-
ipt-pxd
-8
guidance
MS+59 area
spread
51
coupon
3.50%
spread set
-
price
99.01600
yield
3.619%
book size (m)
3,700
peak book (m)
3,800
x-covered
6.17
book attrition
-2.63%
nic
-2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,700
peak book (m)
3,800
x-covered
6.17
book attrition
-2.63%
nic
-2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3700; Registration: Reg S Only; Comments: +54.6bps vs DBR 02/36 (px 98.54bps). LEI: DKGVVH5FKILG8R13CO13;
Use of Proceeds
The net proceeds, or an amount equal to the net proceeds of the issuance of the Notes will be allocated by the Issuer, to finance or refinance, in whole or in part, new and/or existing eligible loans for social assets and/or projects, under the eligible social project categories “Social Housing” and “Healthcare”, as further described in Groupe BPCE’s Social Funding Framework
Relative Value

Social Covered

10 year (May 2036) @ IPTs of MS+59 area

Implied Spread for fresh 10 year @ +53

Priced at MS+51

NIC of -2


COMPS

Issue Date

Issuer

Size

Cpn

Mty date

Mid-Ispd

02/26/26

BFCM

750mn

3.125%

Mar-36

+50

01/05/26

CMARK – Public Sector

750mn

3.503%

Jan-36

+50

01/07/26

BPCECB

1,500mn

3.375%

Jan-36

+50

01/07/26

CRH

500mn

3.00%

Jan-36

+50