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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
MTRL
PRCD
CLNVX
Clariant International Financial Services (Luxembourg) Sarl€500
1EMEA
Jun 3, 2026
currency
EUR
size (m)
500.000
maturity
Jan 15, 2032
type
Fixed
tenor
5.600
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+180-190
ipt-pxd
-45
guidance
MS+150 area
spread
140
coupon
4.125%
spread set
-
price
99.25400
yield
4.282%
book size (m)
3,500
peak book (m)
3,950
x-covered
7
book attrition
-11.39%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
3,500
peak book (m)
3,950
x-covered
7
book attrition
-11.39%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 3500; Registration: Reg S Only; Comments: DBR 0 08/15/31 +154.9bps / 86.93% / HR: 110%. MWC: Yes. CoC: 101%. Tax Call: Yes. Clean-Up Call: 75%. Par Call: 3m. LEI: 98450044E5CBJ9BB0A77;
Guarantor(s)
Clariant AG
Use of Proceeds
The net proceeds will be used by the Group for general corporate purposes, including but not limited for the purposes of refinancing existing debt
Relative Value

COMPS

Bond

Rating (M/S&P/F)

Issue Dt.

Tenor

Amt €

I-Spread







Sector Comps












AKZANA 4.000% Mar-31

Baa3 / BBB / -

25-Mar-26

4.8

600mm

101

AKZANA 4.000% May-33

Baa3 / BBB / WD

24-May-23

7.0

500mm

109

BNRGR 3.375% Oct-31

Baa2 / BBB+ / -

02-Oct-25

5.3

600mm

89

BNRGR 3.875% Apr-32

Baa2 / BBB+ / -

24-Apr-24

5.9

500mm

92

IMCDNA 3.625% Apr-30

Baa3 / - / BBB-

05-Sep-24

3.9

500mm

95

NK 1.000% Jul-31

Baa3 / BBB- / -

14-May-21

5.1

300mm

105

NK 4.000% Nov-32

Baa3 / BBB- / -

21-Nov-25

6.5

600mm

134

SNFF 4.500% Mar-32

- / BBB- / -

20-Mar-25

5.8

550mm

138

SOLBBB 4.250% Oct-31

- / BBB- / -

03-Apr-24

5.3

750mm

109







Recent BBB- Issuance












HOTGR 4.000% Apr-34

- / BBB- / -

15-Apr-26

7.9

650mm

116

KDP 4.224% Mar-32

Baa3 / (P)BBB- / BBB-

26-Mar-26

5.8

800mm

124

GXO 3.750% Nov-30

Baa3 / BBB- / BBB-

24-Nov-25

4.5

500mm

111

MAN 3.750% Dec-30

Baa1 / BBB- / -

15-Dec-25

4.5

500mm

139

SCRSBE 4.250% May-32

- / BBB- / -

25-Nov-25

6.0

350mm

145

SZUGR 4.375% Jun-31

- / BBB- / -

05-Jun-26

5.0

400mm

160

F 4.480% Jul-31

Ba1 / BBB- / BBB-

08-May-26

5.1

750mm

137

F 4.087% Feb-33

Ba1 / BBB- / BBB-

17-Feb-26

6.7

750mm

153

LHAGR 4.125% Jan-32

Baa3 / BBB- / BBB-

27-May-26

5.7

750mm

115