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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
ALOFP
Alstom SA€700
1EMEA
Jun 9, 2026
currency
EUR
size (m)
700.000
maturity
-
type
Fixed Rate Reset
tenor
Perp
call
5.25
registration
Reg S Only
benchmark
-
ranking
Subordinated
moody's
Ba2
s&p
-
fitch
-
size description
-
re-open/tap
No
ipt
5.875% area
ipt-pxd
-57.5
guidance
n/a - straight to launch
spread
-
coupon
5.25%
spread set
-
price
99.73500
yield
5.30%
book size (m)
4,200
peak book (m)
4,500
x-covered
6
book attrition
-6.67%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
book size (m)
4,200
peak book (m)
4,500
x-covered
6
book attrition
-6.67%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Book size: 4200; Redemption: 2031-06-16; Registration: Reg S Only; Comments: OBL 2.5 Apr31 (#193) (px 98.76) + 252.7bps. MWC: B+40. CoC: 100%. Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 96950032TUYMW11FB530;
Use of Proceeds
To finance and/or refinance, in full, the assets and/or expenditures described in the European Green Bond Factsheet, in accordance with the EuGB Regulation (such Notes being “EuGBs”)
Relative Value

COMPS

Issuer

Ticker

First Reset Date

Years to Reset

Issue rating

Coupon

Size (m)

Current Price

Current spread (MS - Bid)

Current YTR (Bid)

Alstom

ALOFP

29/08/2029

3,2

Ba2/-/-

5868%

750

103,03%

192 bps

4,82%

Var Energi

VARNO

15/02/2029

2,7

Ba2/BB+/-

7862%

750

108,26%

162 bps

4,51%

Var Energi

VARNO

29/07/2031

5,2

Ba2/BB+/-

4950%

750

99,73%

208 bps

5,01%

Bayer

BAYNGR

25/12/2028

2,6

Ba1/BB+/BB+

6625%

750

104,38%

184 bps

4,74%

Bayer

BAYNGR

13/12/2029

3,5

Baa3/BB+/BB+

5500%

750

101,36%

215 bps

5,06%

Bayer

BAYNGR

25/12/2031

5,6

Ba1/BB+/BB+

7000%

1000

107,82%

238 bps

5,33%

Lufthansa

LHAGR

15/01/2031

4,6

Ba1/BB/BB

5250%

500

100,22%

227 bps

5,19%

Abertis

ABESM

28/02/2030

3,7

-/BB/BB+

4870%

750

101,29%

158 bps

4,48%

Abertis

ABESM

23/02/2031

4,7

-/BB/BB+

4746%

750

100,44%

171 bps

4,63%

Abertis

ABESM

29/10/2031

5,4

-/BB/BB+

4744%

500

99,75%

186 bps

4,80%