Motability Operations Group PLC (MOTAB) 2023-1

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
EUR500.0008.5Jul-31Sr. UnsecuredA1A-FixedSwapsMS+85 aMS+70-75703.50%-99.28000
GBP350.00020Jan-43Sr. UnsecuredA1A-FixedGG+115-120G+100 a904.88%-99.81000
Tranche Comments
8.5 yr: Book size: 1000; Registration: Reg S Only; Comments: EUR500m 8.5yr snr unsec bmk social RegS. A1/A/. Barc(B&D)/HSBC(Log)/Lloyds/NatWest. IPTs 8.5yr MS+85 area for exp 500m. Guidance MS+70/+75 for 500m. Launch MS+70. Books subj 1bn+ (at guidance). B+134.7bps vs DBR 0% due Feb 2031 (bid price 83.485 / HR 108%). Par Call: 3m. MWC: B+20. LEI: AZ3NL8JCZDCNUXFWI720; 20 yr: Book size: 1600; Registration: Reg S Only; Comments: GBP350m 20yr snr unsec bmk social RegS. A1/A/. Barc(B&D)/HSBC(Log)/Lloyds/NatWest. IPTs 20yr UKT 4.5% Dec 2042 +115/+120 area for exp 300m. Guidance UKT+100 area for 350m. Launch G+90. Books subj 1.6bn+ (at guidance). UKT 4.5% Dec 2042, HR 90% (mid 106.951 / bid 106.751). Par Call: 3m. MWC: UKT+15. LEI: AZ3NL8JCZDCNUXFWI720;
Deal Comments
Social Bond
Guarantor(s)
Motability Operations Ltd, Motability Hire Purchase Ltd