Related Issuers
by Stephen Carter
Jul 07, 2021 12:08 PM ET
Deutsche Lufthansa AG (LHAGR) EUR1bn (from benchmark size) Reg S bearer sr unsec notes 2-part. Ba2/BB- (negative/negative). Via Citi (B&D)/CS/HSBC/ING jt active books. List Lux. German Law. Settles 07/14 (T+5).
- EUR500m (from benchmark size) due 07/14/24 (3y). NCL (1mo par call). 80% clean-up call. Annual pay (act/act). ISIN: XS2363244513. IPT: 2.50%. Px guidance: 2.25%-2.375%. Final pxg: 2.25%. Priced: 2.00% at 99.283%, yield 2.25%. +296.6bp vs DBR 1.50% 05/15/24. ms+266.9bp.
- EUR500m (from benchmark size due) 07/14/29 (8y). NCL (3mo par call). 80% clean-up call. Annual pay (act/act). ISIN: XS2363235107. IPT: 3.875%-4.00%. Px guidance: 3.75%-3.875%. Final pxg: 3.75%. Priced: 3.50% at 98.299, yld 3.75%. +423.5bp vs DBR 07/14/29. ms+385.6.
3y books were over EUR900m; 8y books over EUR1bn. Run off the IG desk. UOP: GCP. Biz: passenger and cargo airline. HQ: Cologne, Germany.