Commentary & Deal Flow

Spread set at: 7yr: MS+37bp - Orderbook in excess of €2.2bn (incl. €175m JLM)

Book Update: Orderbook in excess of €1.75bn (incl. €175m JLM interest)
Guidance: 7yr: MS+42a

• Issuer: Crédit Mutuel Home Loan SFH (CMCICB)
• Issuer LEI: 9695009KQA7MMTQL8E07
• Exp. Issue rating: Aaa/AAA/AAA (Moody's/S&P/Fitch)
• ISIN: FR0014017W96
• Thought for less than a second
  Format: Reg S, Obligations de Financement de l’Habitat (OH), CRD IV compliant / ECBC Covered Bond – EU harmonization European Covered Bond (Premium) labelled
• Form: Bearer dematerialised
• Maturity: 17-Nov-32 (soft bullet)
• Extended Maturity: 17-Nov-33
• Settle: 17-Apr-26 (T+6)
• Size: € Benchmark
• Spread set at: MS+37bp
• Books subject at: 12h00 CET
• Coupon: Fixed annual, Act/Act ICMA, short first
• Denoms: €100k+100k
• Listing: Euronext Paris
• Law: French law
• Documentation: Under the Issuer’s EUR 70bn International Covered Bond Programme dated 29-Jul-25 as supplemented on 13-Feb-26
• Advertisement: The Base Prospectus, supplements as well as the Final Terms (when published) are available at: https://www.creditmutuel-homeloansfh.eu/en/covered-bonds/documentation/index-sfh.html
• Bookrunners: BNP Paribas, CIC (B&D), Danske Bank, Deutsche Bank
• Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or the UK.
• Schedule: Books open, today’s business