Commentary & Deal Flow

Spread set at: 9yr: SARON MS+27bp - Books to close at 10.55am CEST
IPTs: 9yr: SARON MS+27/30bp

• Issuer: EUROFIMA European Company for the Financing of Railroad Rolling Stock (Ticker: EUROF)
• Issuer Domicile: Switzerland
• Format: Public Fixed-Rate Bonds
• Status: Senior unsecured debt
• Issuer Rating: Aa2 st. (Moody’s) / AA st. (S&P) / AA st. (Fitch)
• Instrument Rating (exp): Aa2 (Moody's) / AA (S&P) / AA (Fitch)
• Sustainability Rating: MSCI ESG AAA / ISS ESG B- Prime / Sustainalytics 4.6 negligible risk / Inrate B-
• Issue Size: CHF 150m (WNG)
• Coupon: 0.8800% p.a. (indicative) (will price at par)
• Maturity: 9 years (20-Jul-26 until 20-Jul-35)
• Spread/Yield: SARON MS+27bp
• Lead Manager(s): UBS, BKB, ZKB
• SNB Repo-eligibility: At the discretion of the SNB, expected yes (HQLA Level 2)
• Documentation: Standalone
• FinSA Prospectus: No prospectus required in accordance with art. 37 FinSA
• Governing Law: Swiss law
• Covenants: PP, NP, XD
• SIX Listing: 17-Jul-26
• Denomination: CHF 5000
• Use of Proceeds: General funding purposes
• Sales Restrictions: USA, US persons, UK, EEA
• Timing: Today's business, books to close at 10.55am CEST. Pricing to follow shortly thereafter.
• Settle: 17-Jul-26 (T+4)