| C/P | Industry | Status | Ticker(s) | Issuer(s) | Size(m) | Tranches | Region | Date | |
|---|---|---|---|---|---|---|---|---|---|
IGC | FNCL | PRCD | BACR | Barclays PLC | £750 | 1 | EMEA | May 21, 2026 |
Tier 2 Sub
10NC5 (Jul 2036/July 2031) @ Gilts +195 area
Implied Spread for fresh 10NC5 @ +170
Priced at Gilts +165
NIC of -5
COMPS | ||||||||
GBP T2 Comparables | ||||||||
Ticker | Currency | Coupon | Rating | Maturity | Maturity (Years) | UKT-Spread (Bid-Offer) | UKT Benchmark | Size |
BACR | GBP | 8.407 | Baa1/BBB/BBB+ | Nov-2032nc2027 | 6.5nc1.5 | 106 - 98 | UKT 1.25 07/22/27 | £1bn |
NWIDE | GBP | 5.5 | Baa1/BBB/BBB+ | Jul-2036nc2031 | 10.1nc5.1 | 138 - 131 | UKT 0.25 07/31/31 | £400m |
LLOYDS | GBP | 5.625 | Baa1/BBB+/A- | Sep-2036nc2031 | 10.3nc5.3 | 145 - 141 | UKT 0.25 07/31/31 | £500m |
ACAFP | GBP | 6 | Baa1/BBB+/A- | Oct-2035nc2030 | 9.4nc4.4 | 133 - 127 | UKT 0.375 10/22/30 | £750m |
ACAFP | GBP | 5.375 | Baa1/BBB+/A- | Dec-2037nc2032 | 11.6nc6.6 | 141 - 135 | UKT 4.25 06/07/32 | £750m |
BNP | GBP | 6.318 | Baa2/BBB+/A- | Nov-2035nc2030 | 9.5nc4.5 | 134 - 126 | UKT 0.375 10/22/30 | £400m |
GS | GBP | 5.77 | Baa2/BBB/BBB+ | Sep-2036nc2031 | 10.3nc5.3 | 150 - 146 | UKT 0.25 07/31/31 | £500m |
ANZ | GBP | 5.145 | A3/A-/A- | Aug-2036nc2031 | 10.2nc5.2 | 122 - 116 | UKT 0.25 07/31/31 | £500m |
EUR T2 Comparables | ||||||||
Ticker | Currency | Coupon | Rating | Maturity | Maturity (Years) | I-Spread (Bid-Offer) | Size | |
BACR | EUR | 4.616 | Baa1/BBB/BBB+ | Mar-37nc2032 | 10.8nc5.8 | 136 - 131 | €1.25bn | |
NWIDE | EUR | 4 | Baa1/BBB/BBB+ | Jul-35nc2030 | 9.2nc4.2 | 105 - 99 | €650m | |
LLOYDS | EUR | 4 | Baa1/BBB+/A- | May-35nc2030 | 9.0nc4.0 | 104 - 99 | €1bn | |
ACAFP | EUR | 4.375 | Baa1/BBB+/A- | Apr-36nc2031 | 9.9nc4.9 | 122 - 117 | €1bn | |
BNP | EUR | 3.945 | Baa2/BBB+/A- | Feb-37nc2032 | 10.7nc5.7 | 123 - 118 | €1.5bn | |
GS | EUR | 4.188 | Baa2/BBB/BBB+ | Apr-36nc2031 | 9.9nc4.9 | 128 - 125 | €1.4bn | |
ANZ | EUR | 4.145 | A3/A-/A- | May-38nc2033 | 12.0nc7.0 | 124 - 122 | €750m | |
| CreditFlow: End of Day (Europe IG) | May 21, 2026 |