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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
CCBGBB
Belfius Bank SA/NV€750
1EMEA
May 20, 2026
currency
EUR
size (m)
750.000
maturity
May 27, 2032
type
Fixed
tenor
6.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Covered Bond
moody's
-
s&p
AAA
fitch
AAA
size description
Will Not Grow
re-open/tap
No
ipt
-
ipt-pxd
-6
guidance
MS+30 area
spread
24
coupon
3.25%
spread set
-
price
99.90300
yield
3.268%
book size (m)
2,250
peak book (m)
2,250
x-covered
3
book attrition
0.00%
nic
2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,250
peak book (m)
2,250
x-covered
3
book attrition
0.00%
nic
2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2250; Registration: Reg S Only; Comments: 35.6bps over DBR 1.7 08/15/32 (@93.176), HR 100%. LEI: A5GWLFH3KM7YV2SFQL84;
Relative Value

Covered

6 year (May 2032) @ MS+30 area

Implied Spread for fresh 6 year @ +22

Priced at MS +24

NIC of +2


COMPS

Ticker

Pricing Date

Cpn

Amt

Maturity

mid i-sprd

KBC

01.04.26

3,000

750

10.04.31

21,0

HVB

06.05.26

3,000

1.25

06.08.31

20,5

DZHYP

07.04.26

3,125

1

29.08.31

17,5

LBBW

19.05.26

3,125

1

28.05.32

18,0

CMZB

09.04.26

3,125

1

14.01.33

23,5