Commentary & Deal Flow

IPTs: 4.5yr: MS+90/95bp 9.5yr: MS+145/150bp

• Issuer: RELX Finance B.V.
• Issuer LEI: 54930086P8MBY4IN4E29
• Guarantor (Ticker): RELX PLC (Ticker: RELLN)
• Guarantor LEI: 549300WSX3VBUFFJOO66
• Guarantor Ratings (M/S/F): A3 (stable) / A- (stable) / A- (stable)
• Exp. Issue Ratings (M/S/F): A3 / A- / A-
• Format: Senior, Unsecured, Reg S, Bearer NGN, Cat2
• Settlement: 28-Sep-26 (T+5)
• Currency: EUR
• Size:
  • 4.5yr: 500mn exp.
  • 9.5yr: 500mn exp.
• Tenor:
  • 4.5yr: 4.5yr FXD
  • 9.5yr: 9.5yr FXD
• Coupon: FXD (Ann, ACT/ACT (ICMA))
• Coupon Payment: Annually in arrear, payable on 21 March in each year commencing on 21-Mar-27 (short first) up to and including the Maturity Date
• Maturity Date:
  • 4.5yr: 21-Mar-31
  • 9.5yr: 21-Mar-36
• Par Call:
  • 4.5yr: 3 months
  • 9.5yr: 3 months
• ISIN:
  • 4.5yr: XS3489959281
  • 9.5yr: XS3489959877
• Use of Proceeds: General Corporate Purposes
• Marketing:
  • 4.5yr: An investor presentation will be available at https://dealroadshow.finsight.com Entry Code: TEXELII2026
  • 9.5yr: Direct link: https://dealroadshow.finsight.com/e/TEXELII2026
• Documentation: Standalone / MWC / CoC Put / Clean-up Call (75%)/ Tax Call
• Target Market: UK MiFIR and EU MiFID II Professionals & Eligible Counterparties only (all distribution channels). No EEA PRIIPs KID or UK PRIIPs KID/CCI product summary will be prepared as not available to retail in EEA or the U.K.
• Governing Law: English Law
• Selling Restrictions: As per the issuer’s preliminary prospectus
• Denominations: EUR 100k+ 1k
• Listing: London Stock Exchange (Regulated market)
• Joint Active Bookrunners: BNP Paribas, Citigroup, Commerzbank, J.P. Morgan (B&D), Rabobank, TD Securities, UniCredit
• Advertisement: The final prospectus, when published, will be available on the issuer’s website (https://www.relx.com/investors/debt-investors/term-debt)
• Timing: Books open, today's business