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Commentary & Deal Flow

NEW ISSUE: Ayvens €500m (WNG) 6yr Green SP; MS+100a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

IPT

Ayvens

6yr

23-Jun-32

€500m (WNG)

SP

Green

MS+100a


IPTs: MS+100bp area


  • Issuer: Ayvens (Ticker: AYVFP)
  • LEI: 969500E7V019H9NP7427
  • Issuer Ratings: A1/A-/A (Moody's/S&P/Fitch)
  • Exp. Issue Ratings: A1/A-/A (Moody's/S&P/Fitch)
  • Format: Senior Preferred / Reg S, Dematerialised in bearer form
  • Size: €500m (WNG)
  • Coupon: Fixed annual, ACT/ACT
  • IPTs: MS+100bp area
  • Settlement: 23-Jun-26 (T+5)
  • Maturity: 23-Jun-32
  • Clean-up Redemption Option: Applicable (75%)
  • Make-Whole Call Option: Applicable, +[.]bp (Reference: [.])
  • Acknowledgement of Bail-In and Write-Down or Conversion Powers: Each Noteholder acknowledges, accepts, consents and agrees to be bound by the effect of the exercise of the Bail-in Power by the Relevant Resolution Authority or the Regulator
  • Denominations: €100,000 + €100,000
  • Listing: Euronext Paris
  • Governing Law: French law
  • Global & Sole ESG Structuring Coordinator: Societe Generale
  • Joint Lead Managers: BofA Securities, Citigroup, Danske Bank, HSBC and Societe Generale (B&D)
  • Fees: The Joint Lead Managers will be paid a fee in connection with the transaction. Details of the fee may be available to investors upon request
  • Use of Proceeds: An amount equal to the net proceeds will be applied exclusively for the financing or refinancing of eligible vehicles (“Eligible Assets”), that contribute to the development of clean transportation and the transition to a low carbon future in accordance with the eligibility criteria set out in the Green Financing Framework (the "Framework")
  • Advertisement: The Base Prospectus, dated 7-Jul-25 as supplemented from time to time, as well as the Final Terms (when published) are available at https://www.ayvens.com/investors/publications-and-documents/debt-documents/ The Issuer is currently updating its EMTN Base Prospectus via a supplement to reflect the recent upgrade of its long-term senior debt rating by Fitch. This supplement is expected to be approved by the AMF on or about 17th June and will be available on Issuer's website (link above)
  • Target Market: Manufacturer target market (MIFID II / UK MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs or UK PRIIPs key information document (KID) or CCI product summary has been prepared as not available to retail in the EEA and in the UK
  • Timing: Books open, today's business