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by Stephen Carter
Apr 28, 2021 11:37 AM ET
ZF Finance GmbH (gtd by ZF Friedrichshafen AG) (ZFFNGR) EUR500m (WNG) Reg S green sr unsec notes due 05/06/27 (6y). NCL (MWC B+40bp) 3mo par call, clean-up call 80%. Ba1/BB+ (negative/negative). Via BNP/ING/LBBW/UniCredit (B&D) jt books. ING as Green Structuring Advisor. Second Party Opinion by ISS ESG. List Lux. German law. Annual pay (Act/Act). Settles 05/06 (T+5). ISIN: XS2338564870. IPT: 2.25%-2.375% yield. Px guidance: 2.00%-2.125% yield. Final yield: 2%.
Priced: 2% at 100. ms+219.3bp. +254.6bp DBR 0.25% 02/15/27.
1x1 and small group calls started 04/26. Books went subject at 11:45 UKT today. Orderbooks over EUR2.5bn pre-rec, good at tight end of guidance). UOP: eligible green projects. Biz: a global technology company supplying systems for passenger cars, commercial vehicles and industrial technology. HQ: Friedrichshafen, Germany.