Commentary & Deal Flow

Size Update: New min size CHF 150m
IPTs: 7.5yr: SARON MS+150/155bp

• Issuer: Aroundtown SA (Ticker: ARNDTN)
• Issuer Domicile: Luxembourg
• Format: Public Fixed Rate Notes
• Status: Senior unsecured
• Issuer Rating: BBB (S&P)
• Instrument Rating (exp): BBB (S&P)
• Size: min. CHF 150mm
• Coupon: 1.9338% p.a. (indicative), short 1st. coupon
• Maturity: 09-Jan-34 (7 years 180 days from 09-Jul-26)
• Spread/Yield: SARON MS +150.0 /+155.0 // YTM 1.934% /1.984% // Govt.+171 /+176
• Lead Manager(s): Deutsche Bank, Goldman Sachs International, UBS
• SNB Repo-eligibility: At the discretion of the SNB, expected no
• Documentation: EMTN Programme Prospectus dated 09-Jun-26 of the Issuer’s Euro Medium Term Note Programme
• FinSA Prospectus: Delayed prospectus approval in accordance with Article 51(2) FinSA
• Governing Law: English Law
• Covenants: PP, NP, XD, COC
• Early Redemption: 3-month par call
• SIX Listing: 07-Jul-26
• Target Market: Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients (all channels for distribution). Public Offering in Switzerland only. Subject to applicable selling restrictions
• Sales Restrictions: United States and US persons, United Kingdom, European Economic Area (including Belgium), Japan, Israel, Singapore and Canada, as per the Issuer’s EMTN Programme
• Timing: Today's business, books can close at short notice
• Settlement: 09-Jul-26