Bayer AG (BAYRY) 2019-1

EUR1,000.00060Nov-79-Baa3BB+BBB-FixedSwaps3% a2.625-2.75%264.72.38%-99.37300
EUR750.00060Nov-79-Baa3BB+BBB-FixedSwaps3.75% a3.375% a310.83.13%-100.00000
Tranche Comments
60 yr: Redemption: 2025-12-05; Registration: Reg S Only; Comments: EUR 60NC5.5 hybrid. With 60NC8 & tender. Baa3/BB+/BBB-. BNPP(B&D)/BofA/MUFG. IPTs 3% area, guidance 2.625%/2.75% for exp 1bn, tbp 2.5% for 1bn. Final book 4.3bn. (Source: IFR); 60 yr: Redemption: 2027-12-11; Registration: Reg S Only; Comments: EUR 60NC8 hybrid. With 60NC5.5 & tender. Baa3/BB+/BBB-. BNPP(B&D)/BofA/MUFG. IPTs 3.75% area, guidance 3.375% area for exp 750m, tbp 3.125% for 750m. Final book 5bn. TBP today. (Source: IFR);