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Commentary & Deal Flow

GUIDANCE: RELX Finance B.V. €1bn exp. 4.5yr & 9.5yr Sr Unsec; MS+65a & MS+115a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

ISIN

IPT

Guidance

RELX Finance B.V.

4.5yr

21-Mar-31

€500m exp.

Sr Unsec

Fixed

XS3489959281

MS+90/95

MS+65a

RELX Finance B.V.

9.5yr

21-Mar-36

€500m exp.

Sr Unsec

Fixed

XS3489959877

MS+145/150

MS+115a


Guidance: 4.5yr: MS+65a - Books > €1.5bn 9.5yr: MS+115a - Books > €2.6bn (Combined books > €4.1bn)

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:
  • 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
  • Books Subject: 12:45 UKT / 13:45 CET