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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
ENGY
PRCD
TEFP
Technip Energies NV€500
1EMEA
Jun 3, 2026
currency
EUR
size (m)
500.000
maturity
Jun 10, 2033
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
BBB
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
MS+150 area
ipt-pxd
-38
guidance
MS+115 area
spread
112
coupon
4.00%
spread set
-
price
99.71200
yield
4.048%
book size (m)
2,300
peak book (m)
2,900
x-covered
4.6
book attrition
-20.69%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
book size (m)
2,300
peak book (m)
2,900
x-covered
4.6
book attrition
-20.69%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 2300; Registration: Reg S Only; Comments: +121.4bps vs DBR 2.3 02/33 TWIN (96.775) HR: 101%. MWC: Yes. CoC: Yes. Clean-Up Call: 75%. LEI: 724500FLODI49NSCIP70;
Deal Comments
UPDATE: Spread Set at MS+112
Use of Proceeds
General Corporate Purposes
Relative Value

COMPS

Issuer

Ticker

Rating (M/S/F)

Coupon

Size

Maturity

Years to Mat

I-Sprd

Issue Dt.

Technip Energies Nv

TEFP

- / BBB / -

1.13%

€600m

May-28

2

53

May-21

* Energy & Industrial Infrastructure Comparables *

Baker Hughes Llc/Co-Obl

BHI

A3 / A *- / -

3.23%

€600m

Mar-30

3.8

50

Mar-26

Baker Hughes Llc/Co-Obl

BHI

A3 / A *- / -

3.81%

€900m

Mar-34

7.8

88

Mar-26

Baker Hughes Llc/Co-Obl

BHI

A3 / A *- / -

4.19%

€750m

Mar-38

11.8

106

Mar-26

Aker Bp Asa

AKERBP

Baa2 / BBB / BBB

4.00%

€750m

May-32

6

97

May-24

Var Energi Asa

VARNO

Baa3 / BBB / -

3.88%

€1,000m

Mar-31

4.8

102

Mar-25

Repsol Europe Finance

REPSM

Baa1 / BBB+ / BBB+

0.88%

€600m

Jul-33

7.1

72

Jun-21

Cepsa Finance Sa

CEPSA

Baa3 / NR / BBB-

4.13%

€750m

Apr-31

4.9

98

Apr-24

Terega Sa

TEREGA

Baa2 / - / -

4.00%

€600m

Sep-34

8.3

107

Sep-24

Apa Infrastructure Ltd

APAAU

Baa2 / BBB / -

1.25%

€500m

Mar-33

6.8

94

Mar-21

* Engineering & Construction Services Comparables *

Arcadis Nv

ARCAD

- / BBB- / -

4.00%

€300m

May-31

5

128

May-26

Heidelberg Materials Ag

HEIGR

Baa2 / BBB / -

3.50%

€900m

Oct-29

3.4

57

May-26

Heidelberg Materials Ag

HEIGR

Baa2 / BBB / -

3.75%

€750m

May-32

6

63

Jan-23

Heidelberg Materials Fin

HEIGR

Baa2 / BBB / -

4.88%

€750m

Nov-33

7.5

89

Nov-23

Heidelberg Materials Ag

HEIGR

Baa2 / BBB / -

3.95%

€700m

Jul-34

8.1

86

Jun-24

Heidelberg Materials Ag

HEIGR

Baa2 / BBB / -

4.00%

€600m

Jul-35

9.1

107

May-26

Heidelberg Materials Fin

HEIGR

Baa2 / BBB / -

3.75%

€600m

Jul-36

10.1

104

Jan-26

Holcim Finance Lux Sa

HOLNSW

Baa1 / NR / BBB+

0.50%

€850m

Apr-31

4.9

70

Nov-20

Holcim Finance Lux Sa

HOLNSW

Baa1 / NR / BBB+

0.63%

€650m

Jan-33

6.6

90

Jan-21

Hochtief Aktiengesellsch

HOTGR

- / BBB- / -

4.25%

€650m

May-30

4

64

May-24

Hochtief Aktiengesellsch

HOTGR

- / BBB- / -

4.00%

€650m

Apr-34

7.9

116

Apr-26

* Other companies with Industrial Technology & Licensing activities *

Honeywell International

HON

A2 *- / A / A

3.38%

€357.2m

Mar-30

3.8

50

Feb-24

Honeywell International

HON

A2 *- / A / A

3.75%

€375.7m

Mar-36

9.8

94

Feb-24

Air Liquide Finance

AIFP

A2 / A / -

3.00%

€500m

May-33

6.9

61

Oct-25

Air Liquide Finance

AIFP

A2 / A / -

3.50%

€500m

Mar-35

8.8

62

Mar-25

Linde Plc

LIN

A2 / A / -

3.20%

€500m

May-30

4

45

May-26

Linde Plc

LIN

A2 / A / -

3.80%

€500m

May-36

10

79

May-26