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Commentary & Deal Flow

NEW ISSUE: The Flemish Community € bmk 15yr Sr Unsec; OLO+21a

IGC European Market: Deal Flow - SSA

Issuer

Term

Maturity

Size

Ranking

Type

Guidance

The Flemish Community

15yr

28-Mar-41

bmk

Sr Unsec

Fixed

OLO+21a


Guidance: 15yr: OLO+21a (~MS+96a)


  • Issuer: The Flemish Community
  • LEI: 9676003JDGYZ0V9FF348
  • Issuer Rating: AA- (Fitch)
  • Expected Issue Ratings: AA- (Fitch)
  • Format: Reg S, Senior Unsecured
  • Tenor: short 15-year
  • Maturity: 28-Mar-41
  • Settlement: 08-Jul-26
  • Size: € Benchmark
  • Coupon: Fixed, Annual ACT/ACT (short first on 28 March 2027)
  • Guidance: OLO +21bps area (~MS+96bps area)
  • Reference: OLO 4.25% 28-Mar-41 mid
  • ISIN: BE0390366384
  • Docs: EMTN Programme
  • Denominations: €100k + €100k
  • UoP: Finance the budget deficit in general and the expenditures for capital participations (ESA-8) and for loans (ESA-9)
  • Listing: Euronext Brussels (regulated market)
  • Governing Law: Belgian
  • Target market: Manufacturer target market (EU MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs key information document (KID) or UK CCI product summary has been prepared as not available to retail in the EEA or the UK.
  • Advertisement: https://www.vlaanderen.be/en/finance-flanders/finance/financial-instruments/euro-medium-term-note
  • Bookrunners: Deutsche Bank, HSBC (B&D), ING, UniCredit
  • Timing: Books are open, today's business