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Commentary & Deal Flow

NEW ISSUE: Orbit Capital £ bmk 15yr Sust Snr Sec; G+110a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

IPT

ISIN

Orbit Capital

15yr

13-Aug-41

bmk

Snr Sec

Fixed

G+110a

XS3463463888


IPTs: 15yr: G+110bp area


  • Issuer: Orbit Capital plc
  • Issuer LEI: 213800QIGGLJLT7WXP16
  • Borrowers: Orbit Group Limited / Orbit Housing Association Limited
  • Borrowers LEI: 213800EQX3LKB474E667 / 21380032X55Y917K9J52
  • Issuer Ratings: A3 (stable) (Moody’s)
  • Expected Issue Ratings: A3 (Moody’s)
  • Format: Senior, Fully Secured, Reg S, Bearer (NGN), Sustainability
  • Size: £ Benchmark
  • Settlement: 13-Aug-26 (T+5)
  • Tenor: 15 Years
  • Legal Maturity: 13-Aug-41
  • Benchmark Gilt: UKT 5.250% due 2041 (ISIN: GB00BVP99897)
  • Coupon: Fixed, Semi-Annual, ACT/ACT (ICMA)
  • Documentation: EMTN Programme Admission Particulars, as supplemented on 29-Jul-26 and 04-Aug-26, International Securities Market, English Law The £1bn Note Programme dated 30-Mar-26 is available at Programme Admission Particulars (Orbit Establishment)(112644341.1). The Pricing Supplement, when published, will be available on the website of the London Stock Exchange www.londonstockexchange.com
  • Denominations: £100k + £1k
  • Issuer Call: 3 Month Par Call, Make Whole Call
  • Use of Proceeds: Sustainability Bond, in accordance with the Issuer's Sustainable Finance Framework. More details can be found at https://orbitgroup.org.uk/media/xs0hs4ur/sustainable-finance-framework-2026_27-feb.pdf The Framework does not form part of the offering materials and any offer is made solely on the basis of the Programme Admission Particulars dated 30-Mar-26 (as supplemented) and the Pricing Supplement (once available).
  • Target Market: Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) or disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as the Notes are not available to retail in the EEA or UK.
  • Asset Cover: 105% EUV-SH / 115% MV-ST as further described in the Programme Admission Particulars
  • Marketing: https://dealroadshow.finsight.com with entry code Orbit26
  • Clearing: Euroclear and Clearstream
  • Active Bookrunners: Barclays, Lloyds, NatWest (B&D)
  • Selling Restrictions: US: Reg S, Category 2. TEFRA D applies. No sales to retail in the UK or EEA.
  • Timing: Books open, today’s business