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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
ABANCA
ABANCA Corporacion Bancaria SA€500
1EMEA
May 27, 2026
currency
EUR
size (m)
500.000
maturity
Jun 9, 2034
type
Fixed Rate Reset
tenor
8.000
call
7.00
registration
Reg S Only
benchmark
Swaps
ranking
Senior Preferred
moody's
A3
s&p
-
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
MS+120-125
ipt-pxd
-25.5
guidance
n/a - straight to launch
spread
97
coupon
3.75%
spread set
-
price
99.35400
yield
3.857%
book size (m)
990
peak book (m)
1,300
x-covered
1.98
book attrition
-23.85%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
990
peak book (m)
1,300
x-covered
1.98
book attrition
-23.85%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 990; First Pay: 2027-06-09; Redemption: 2033-06-09; Registration: Reg S Only; Comments: DBR2.3% Feb33+106.2bp (Spot 97/ HR 101%). Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 54930056IRBXK0Q1FP96;
Deal Comments
UPDATE: Spread Set at MS+97#
Relative Value

COMPS

Bond

Issued

Size (m)

Rating (M / S / F)

Call date

Yr to Mat

Yr to Call

i+ (Bid)

ABANCA 5 7/8 04/02/30

Sep-23

500

A3/-/BBB+

Apr-29

3.8

2.9

70

ABANCA 3 1/4 02/14/31

Feb-25

500

A3/-/BBB+

Feb-30

4.7

3.7

72