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Commentary & Deal Flow

PRICED: Technip Energies N.V. €500m 7yr Sr Unsec; MS+112bp

IGC European Market: Deal Flow - General

Issuer

Term

Coupon

Maturity

Size

Ranking

Type

Price

Yield

Spread

IPT-PXD

Technip Energies N.V.

7yr

4.000%

10-Jun-33

€500m

Sr Unsec

Fixed

99.712

4.048%

MS+112

-38.0


Reoffer: 7yr: MS+112bp / 99.712 / 4.048%
Benchmark: 7yr: DBR 2.3 15-Feb-33 TWIN @ 96.775 / B+121.4 / HR 101%

7yr: Final Books €2.3bn (excl. JLM interests). Peak book above €2.5bn (pre-rec).

Launched: 7yr: €500m @ MS+112bp - Book above €2.5bn (pre rec) at tight end of guidance excl. JLM interests
Guidance: 7yr: MS+115 +/-3bp - Book above €2.9bn (pre rec) excl. JLM interests
IPTs: 7yr: MS+150a


  • Issuer: Technip Energies N.V. (Ticker: TEFP; Country: FR)
  • Issuer LEI: 724500FLODI49NSCIP70
  • Issuer rating: BBB stable outlook by S&P
  • Expected rating of the bonds: BBB by S&P
  • Format: Reg S, Bearer, New Global Note, Senior Unsecured (Cat.2)
  • Pricing Date: 03-Jun-26
  • Settlement: 10-Jun-26 (T+5)
  • Size: €500m
  • Maturity: 10-Jun-33 (7-year)
  • Reoffer: MS+112bps / 99.712 / 4.048%
  • Coupon: 4% Fxd, Ann, Act/Act (ICMA)
  • Benchmark: +121.4bps vs DBR 2.3 15-Feb-33 TWIN (96.775) HR: 101%
  • Global Coordinators: Credit Agricole CIB, HSBC (B&D)
  • Active Bookrunners: BNP Paribas, Credit Agricole CIB, Deutsche Bank, HSBC, Société Générale, Standard Chartered Bank AG
  • Documentations: Standalone / English Law / 3m Par Call / MWC (Bund+20bps)/ Clean-up @75% / CoC
  • Denominations: €100,000 + €1,000
  • Listing: Euronext Paris
  • UoP: General Corporate Purposes
  • TOE / FTT: 15.27 UKT / 16.00 UKT
  • Target Market: The manufacturer target market (MIFID II/UK MIFIR product governance) is eligible counterparties and professional investors (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom
  • ISIN: XS3317598053
  • Selling Restrictions: As set out in the Preliminary Prospectus dated 01-Jun-26
  • Advertisement: Preliminary prospectus dated 01-Jun-26. Final Prospectus, when published, will be available on the website of the Autorité des Marchés financiers: https://www.amf-france.org/fr