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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
BAWAG
Bawag Psk$700
1EMEA
May 20, 2026
currency
USD
size (m)
700.000
maturity
May 29, 2029
type
Fixed
tenor
3.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
Aaa
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-5
guidance
SOFR MS+55 area
spread
50
coupon
4.508%
spread set
-
price
100.00000
yield
4.508%
book size (m)
2,000
peak book (m)
2,000
x-covered
2.86
book attrition
0.00%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,000
peak book (m)
2,000
x-covered
2.86
book attrition
0.00%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2000; Registration: Reg S Only; Comments: +31.3 bps vs T 3 7/8 05/15/29 (99-08/4.145%). LEI: 529900ICA8XQYGIKR372;
Relative Value

COMPS

USD

Issuer

Rating (M/S/F)

Coupon (%)

Size ($mn)

Maturity

Z+

T+

BYLAN

Aaa/-/-

3.797

650

23-Feb-29

43

26

RY

Aaa/-/AAA

4.139

750

06-Apr-29

39

20

NWIDE

-/AAA/AAA

3.996

1,500

21-Apr-29

40

21

CBAAU

Aaa/-/AAA

4.011

1,750

30-Apr-29

40

21

DNBNO

Aaa/AAA/-

4.235

750

16-Apr-31

48

22

EUR

Issuer

Rating (M/S/F)

Coupon (%)

Size (€mn)

Maturity

Z+

SOFR eq

BAWAG

Aaa/-/-

3.125

850

12-Jan-29

11

39

BYLAN

Aaa/-/-

3

500

22-May-29

8

36

RY

Aaa/-/AAA

2.625

1,250

16-Mar-29

12

40

NWIDE

-/AAA/AAA

2.375

1,000

16-Jan-29

15

43

CBAAU

Aaa/-/AAA

0.875

1,000

19-Feb-29

11

39

DNBNO

Aaa/AAA/-

2.875

1,250

12-Mar-29

9

37