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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
KBCBB
KBC Insurance NV€500
1EMEA
Jun 3, 2026
currency
EUR
size (m)
500.000
maturity
Jun 11, 2036
type
Fixed
tenor
10.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Subordinated
moody's
-
s&p
BBB+
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
MS+160 area
ipt-pxd
-28
guidance
n/a - straight to launch
spread
132
coupon
4.25%
spread set
-
price
99.07600
yield
4.366%
book size (m)
1,400
peak book (m)
2,100
x-covered
2.8
book attrition
-33.33%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
book size (m)
1,400
peak book (m)
2,100
x-covered
2.8
book attrition
-33.33%
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 1400; First Pay: 2027-06-11; Registration: Reg S Only; Comments: DBR 2.9 02/15/36 (@99.04) + 135.2, HR 96%. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 213800G63T4ER4MSVR22;
Use of Proceeds
The Notes to be issued will be used to repay internal subordinated debts subscribed by KBC Group NV
Relative Value

COMPS

Bank T2

Issuer

Coupon

Maturity

M/S/F

Issue Size

Bid I sprd

Next Call

ACAFP

4.375

Apr-36

Baa1/BBB+/A-

1000

122

15/04/2031

BPCEGP

4.875

Feb-36

Baa2/BBB/BBB+

500

125

26/02/2031

ISPIM

4.271

Nov-36

Baa2/BBB-/BBB

1250

123

14/11/2031

KBCBB

3.625

Aug-36

Baa1/BBB+/BBB+

500

111

26/08/2031

Bancassurance Insurance T2

Issuer

Coupon

Maturity

M/S/F

Issue Size

Bid I sprd


ACAFP

4.125

Dec-36

-/BBB+/-

750

127


BPCEAS

4.125

Oct-35

-/-/BBB

400

123


ISPVIT

4.487

May-36

-/-/BBB

500

138