| C/P | Industry | Status | Ticker(s) | Issuer(s) | Size(m) | Tranches | Region | Date | |
|---|---|---|---|---|---|---|---|---|---|
IGC | TECH | PRCD | SAP | SAP SE | €3,500 | 4 | EMEA | May 28, 2026 |
2 year FRN (June 2028) @ 3mE+55 to +60
Implied Spread for fresh 2 year @ +35
Priced at +33
NIC of -2
3 year (June 2029) @ MS+65 to +70
Implied Spread for fresh 3 year @ +31
Priced at +35
NIC of +4
5 year (June 2031) @ MS+85 area
Implied Spread for fresh 5 year @ +40
Priced at +53
NIC of +13
7 year (June 2033) @ MS+100 to +105
Implied Spread for fresh 7 year @ +53
Priced at +68
NIC of +15
COMPS | |||||||
SAP (A1/A+) Curve | |||||||
Bond | Coupon | Maturity | Issue Dt. | Amt. | Tenor | i-spd |
|
SAPGR | 1.25% | Mar-28 | Dec-18 | 1000m | 1.7yr | 13 |
|
SAPGR | 0.38% | May-29 | May-20 | 800m | 2.9yr | 24 |
|
SAPGR | 1.38% | Mar-30 | Mar-18 | 500m | 3.7yr | 35 |
|
SAPGR | 1.63% | Mar-31 | Dec-18 | 1250m | 4.7yr | 37 |
|
Recent 2yr FRNs | |||||||
Bond | Maturity | Rating | Issue Dt. | Amt. | Tenor | FRN |
|
LIN | May-28 | -/A | May-26 | €600m | 1.9yr | 3mE+32bp |
|
DHR | Apr-28 | A2/A- | Apr-26 | €500mm | 1.8yr | 3mE+33bp |
|
HENKEL | Apr-27 | A2/A | Apr-26 | €600mm | 1.8yr | 3mE+33bp |
|
AMZN | Mar-28 | A1/AA | Mar-26 | €1750mm | 1.7yr | 3mE+36bp |
|
2-5yrs HQ Paper | |||||||
Bond | Coupon | Maturity | Rating | Issue Dt. | Amt. | Tenor | i-spd |
GOOGL | 2.50% | May-29 | Aa2/AA+ | Apr-25 | €1500m | 2.9yr | 22 |
GOOGL | 3.20% | May-30 | Aa2/AA+ | May-26 | €1500m | 3.9yr | 34 |
SANFP | 3.00% | May-29 | Aa3/AA | May-26 | €1000m | 2.9yr | 20 |
AMZN | 2.80% | Mar-28 | A1/AA | Mar-26 | €1250m | 1.7yr | 20 |
AMZN | 3.10% | Mar-30 | A1/AA | Mar-26 | €2000m | 3.7yr | 36 |
SIEGR | 2.63% | May-29 | Aa3/AA- | May-25 | €1000m | 3.0yr | 20 |
SCMNVX | 3.13% | May-29 | A2/A- | May-26 | €500m | 2.9yr | 31 |
DHR | 3.25% | Apr-30 | A2/A- | Apr-26 | €750m | 3.9yr | 44 |
LIN | 3.20% | May-30 | A2/A | May-26 | €500m | 3.9yr | 45 |
ADSGR | 3.50% | May-31 | A3/A | May-26 | €500m | 5.0yr | 50 |
IFX | 2.88% | Feb-30 | -/BBB+ | Feb-25 | €750m | 3.7yr | 54 |
IFX | 3.00% | Feb-31 | -/BBB+ | Feb-26 | €750m | 4.7yr | 59 |
5-7yrs HQ Paper | |||||||
Bond | Coupon | Maturity | Rating | Issue Dt. | Amt. | Tenor | i-spd |
SIEGR | 3.38% | Aug-31 | Aa3/AA- | Feb-23 | €1250m | 5.2yr | 32 |
SIEGR | 3.13% | May-32 | Aa3/AA- | Feb-24 | €1250m | 5.9yr | 40 |
SIEGR | 3.13% | May-33 | Aa3/AA- | May-25 | €500m | 6.9yr | 45 |
GOOGL | 2.88% | Nov-31 | Aa2/AA+ | Nov-25 | €1000m | 5.5yr | 43 |
GOOGL | 3.45% | May-32 | Aa2/AA+ | May-26 | €1750m | 5.9yr | 52 |
GOOGL | 3.00% | May-33 | Aa2/AA+ | May-25 | €1500m | 6.9yr | 53 |
AMZN | 3.35% | Mar-32 | A1/AA | Mar-26 | €2250m | 5.7yr | 57 |
AMZN | 3.70% | Mar-35 | A1/AA | Mar-26 | €2500m | 7.7yr | 71 |
SANFP | 3.38% | May-33 | Aa3/AA | May-26 | €650m | 6.9yr | 46 |
AIRFP | 3.38% | May-33 | A1/A | May-26 | €750m | 6.9yr | 55 |
IFX | 2.00% | Jun-32 | -/BBB+ | Jun-20 | €650m | 6.1yr | 66 |
| CreditFlow: End of Day (Europe IG) | May 28, 2026 |