Commentary & Deal Flow

LSEG US Fin Corp (LSELN) exp A3/A US$3bn144A/Reg S no reg rights 3-part sr notes (3y FXD due 3/23/29, 5y FXD due 3/23/31 and 10y FXD due 3/23/36). 3y FRN tranche dropped at launch. MWC FXD tranches. 1mo par call on 3y FXD (2/23/29), 1mo on 5y (2/23/31) and 3mos on 10y (12/23/35). 101 CoC. BofA (B&D on 5y/10y)/BNP/Citi/DB/GS/HSBC/MS (B&D on 3y FXD/FRN) joint active books. Guarantor: London Stock Exchange Group plc. Guarantor Ratings: A3/A (s/s). Denoms: 200,000 x 1,000. Sales into Canada: Yes, via wrapper. Listing: London Stock Exchange. UOP: Refinance indebtedness and/or general purposes. Pricing 3/16. Settle 3/23 (T+5).

IPTs: 3yr FXD T+105 area, 3yr FRN SOFR Equivalent, 5yr T+115 area, 10yr T+145 area.

GUIDANCE: 3y FXD T+75#, 3y FRN SOFR+94#, 5y T+85#, 10y T+115#.

LAUNCHED:
$1.5bn 3y FXD at T+75.
$500m 5y at T+85.

$1bn 10y at T+115.

3y FRN tranche dropped.

OTHER: