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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
REAL
PRCD
AMT
American Tower Corp€750
1USOA
May 19, 2026
currency
EUR
size (m)
750.000
maturity
Sep 1, 2033
type
Fixed
tenor
7.250
call
-
registration
SEC Registered
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
BBB+
fitch
BBB+
size description
-
re-open/tap
No
ipt
MS+130 area
ipt-pxd
-35
guidance
MS+100 area
spread
95
coupon
4.00%
spread set
-
price
99.66300
yield
4.057%
book size (m)
2,650
peak book (m)
2,650
x-covered
3.53
book attrition
0.00%
nic
0
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
coordinating managers
-
book size (m)
2,650
peak book (m)
2,650
x-covered
3.53
book attrition
0.00%
nic
0
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
coordinating managers
-
Tranche Comments
Book size: 2650; First Pay: 2026-09-01; Registration: SEC Registered; Comments: 102.1bps vs. DBR 2.6 08/15/33 (@97.20) / HR 98%. Par Call: 2m. MWC: Yes. CoC: 101%. LEI: 5493006ORUSIL88JOE18;
Deal Comments
UPDATE: Spread Set at MS+95
Use of Proceeds
Repay existing indebtedness drawn under the 2021 Multicurrency Credit Facility, to the extent it has been drawn upon in euros to repay the 1.950% Notes, and for general corporate purposes
Relative Value

Senior

Long 7 year (Sept 2033) @ MS+130 area

Implied Spread for fresh Long 7 year @ +95

Priced at MS +195

NIC of 0


Comps

Ticker

Issue

€mm

CPN

Maturity

Yrs

I+ Bid


AMT

May-23

500

4.625%

May-31

5.0

+70

[Baa2/BBB+/BBB+]

AMT

Sep-20

650

1.000%

Jan-32

5.7

+78


AMT

May-25

500

3.63%

May-32

6

+83


AMT

May-21

500

1.25%

May-33

7

+93


AMT

May-24

500

4.10%

May-34

8

+100


CLNXSM

May-25

750

3.50%

May-32

6

+93

[-/BBB-/BBB-]

CLNXSM

Sep-21

850

2.00%

Sep-32

6.3

+96


CLNXSM

Feb-21

1250

2.00%

Feb-33

6.7

+104


T

Mar-25

1000

3.60%

Jun-33

7

+83

[Baa2/BBB/BBB+]

TELEFO

Jan-26

1000

3.71%

May-33

7

+100

[Baa3/BBB-/BBB]

VZ

May-20

1350

1.30%

May-33

7

+81

[Baa1/BBB+/A-]