Related Issuers
by Stephen Carter
Mar 24, 2022 11:54 AM ET
Split-rated: Teollisuuden Voima Oyj (TVOYFH) EUR600m (up from EUR500m) fixed rate RegS Bearer sr unsec notes due 03/31/27 (5y). NCL (MWC B+40bp) (3mo par call), 80% clean-up call). NR/BB+/BBB- (--/positive/stable). Via BNP/CA (B&D)/Nordea/Swedbank jt books. Off the EMTN programme. List Lux. Engilsh law. Annual pay (actual/actual). Settles 03/31 (T+5). ISIN: XS2463934864. Off the IG desk. IPT: ms+215bp area. Guidance: ms+190bp area. Final terms: EUR600m at ms+185bp.
Priced: 2.625% at 99.511, yield 2.731%. ms+185bp. +251.8bp vs DBR 0.25% 02/27.
The final book was over EUR1.35bn (the book was over EIR1.75bn at guidance (pre rec) and EUR1.8bn (pre rec) at IPT). Roadshow began yesterday. Books went subject at 12pm UKT today. UOP: finance the tender offer for its EUR311.77m 2.625% Notes due Jan 2023 (XS1514470316) at a fixed spread of +45bp vs Interpolated EURIBOR and mid-swap rate, and for GCP: Biz: nuclear power electricity generator in Finland. HQ: Eurajoki, Finland.