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Commentary & Deal Flow

NEW ISSUE: Brenntag Finance B.V. €500m WNG 7yr Sr Unsec; MS+130/135bp

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

IPT

ISIN

Brenntag Finance B.V.

7yr

14-Sep-33

€500m WNG

Sr Unsec

Fixed

MS+130/135

XS3502111522


IPTs: 7yr: MS+130/135bp


  • Issuer: Brenntag Finance B.V. (Ticker: "BNRGR", Country: The Netherlands)
  • Issuer LEI: 724500LOJA6NM43PH951
  • Guarantor: Brenntag SE (Country: Germany)
  • Guarantor LEI: NNROIXVWJ7CPSR27SV97
  • Guarantor Rating: Baa2 (stable) / BBB+ (negative) (Moody's / S&P)
  • Expected Issue Rating: BBB+ (S&P)
  • Format: Senior, unsecured, Reg S, Bearer, New Global Note
  • Settlement Date: 14-Sep-26 (T+5)
  • Maturity Date: 14-Sep-33 (7-year)
  • Size: €500m WNG
  • Coupon: Fixed, Annual, Act/Act (ICMA)
  • ISIN: XS3502111522
  • Documentation: EUR 6.0bn debt issuance programme (DIP) dated 27-Mar-26, as supplemented on 3-Sep-26 / German law / €100,000 + €100,000 / Euro MTF of the Luxembourg Stock Exchange / CoC / 3-month par call / tax call / MWC / clean-up call (80%)
  • Use of Proceeds: General corporate and financing purposes including the refinancing of existing debt
  • Active Bookrunners: BNP Paribas, Deutsche Bank, Helaba, HSBC (B&D)
  • Selling restrictions: As per the Base Prospectus
  • Target Market: Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No EU PRIIPs key information document (KID) UK disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as not available to retail investors in EEA, the UK or elsewhere.
  • Advertisement: This communication is not an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Base Prospectus (together with the supplement thereto) is available, and the Final Terms when published will be available, at: https://www.luxse.com/programme/Programme-BrenntagFinance/14789
  • Timing: Books open, today’s business