Commentary & Deal Flow

IPTs: 8yr: MS+95/100bp

• Issuer: Compass Group PLC
• Issuer LEI: 2138008M6MH9OZ6U2T68
• Issuer Ratings: A2 (stable) / A (stable) (Moody's/S&P)
• Expected Note Ratings: A2 (Moody's)
• Format: Reg S, Bearer, Cat 2, TEFRA D, NGN
• Ranking: Senior Unsecured
• Size: €150m (Exp)
• Active Bookrunners: Barclays (B&D), Societe Generale
• Maturity: 15-Jan-35
• Settlement: 10-Sep-26 (T+5)
• Coupon: 3.500% Fixed, Annual, Act/Act (ICMA)
• Call Options: 3-month par call, MWC, Clean-Up Call (75%)
• Reference Benchmark: DBR 2.600% due 15-Aug-34
• Original ISIN: XS3232968985
• Temporary Tap ISIN: XS3490003855
• Denominations: €100k+€1k
• Documentation: Under the Issuer's £6,000,000,000 EMTN Programme dated 18-Jun-26
• Selling Restrictions: Yes (US: Reg S, Cat 2, TEFRA D; UK; EEA)
• Use of Proceeds: General Corporate Purposes
• Clearing: Euroclear / Clearstream, Luxembourg
• Target Market: MiFID II and UK MiFIR professionals & ECPs-only. Manufacturer target market (MiFID II product governance and UK MiFIR product governance rules) is eligible counterparties and professional investors only (all distribution channels). No EU PRIIPs Regulation key information document or DISC/CCI Regulations disclosure document has been prepared as the Notes are not available to retail investors in the EEA or the UK
• Advertisement: The Base Prospectus, along with the Final Terms, once published, are available at: https://www.compass-group.com/en/investors/debt-investors.html
• Schedule: Books open, today's business