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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
UTIL
PRCD
EDPPL
EDP Servicios Financieros Espana SAU€750
1EMEA
May 21, 2026
currency
EUR
size (m)
750.000
maturity
Mar 1, 2033
type
Fixed
tenor
6.750
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
BBB
fitch
BBB
size description
-
re-open/tap
No
ipt
MS+110 area
ipt-pxd
-30
guidance
n/a - straight to launch
spread
80
coupon
3.75%
spread set
-
price
99.73100
yield
3.798%
book size (m)
1,400
peak book (m)
2,200
x-covered
1.87
book attrition
-36.36%
nic
2
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
1,400
peak book (m)
2,200
x-covered
1.87
book attrition
-36.36%
nic
2
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 1400; First Pay: 2027-03-01; Registration: Reg S Only; Comments: 88.2bps vs DBR 2.3 02/15/2033 TWIN (96.28 / 2.916) | HR: 99%. Par Call: 3m. MWC: Yes. CoC: Yes. Clean-Up Call: 80%. LEI: 5299003GHAFB78O1NU77;
Deal Comments
UPDATE: Spread set at MS+80#
Guarantor(s)
EDP SA
Use of Proceeds
An amount equal to the net proceeds from the issue of the Instruments will be allocated to Eligible Green Projects
Relative Value

EuGB

6.75 year (Mar 2033) @ MS+110 area

Implied Spread for fresh 6.75 year @ +78

Priced at MS +80

NIC of +2


COMPS

Issuer

Rating

Coupon

Size

Maturity

Spread

Years to Mat

EDPPL

Baa2/BBB/BBB

3.50%

€ 750

Jul-30

55

3.9

EDPPL

Baa2/BBB/BBB

3.50%

€ 750

Jul-31

62

4.9

EDPPL

Baa2/BBB/BBB

3.13%

€ 500

Dec-31

66

5.3

EDPPL

Baa2/BBB/BBB

3.25%

€ 650

Feb-32

70

5.5

EDPPL

Baa2/BBB/BBB

4.38%

€ 750

Apr-32

69

5.6