Nestle SA

Deals

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
CHF155.0004Nov-27Sr. UnsecuredAa3AA--FixedSwapsMS+15-20MS+15-20201.63%2100.12500
CHF215.0008Nov-31Sr. UnsecuredAa3AA--FixedSwapsMS+20-25MS+20-25231.88%3100.62800
CHF210.00013Nov-36Sr. UnsecuredAa3AA--FixedSwapsMS+25-30MS+25-30282.00%5100.14200
Tranche Comments
4 yr: Book size: 155; Comments: CHF155m (Upsized from CHF150m) 4y part of 3-tr public snr unsec. Aa3/AA-/NR. ZKB/DB/UBS. IPT 4yr MS+15/+20. Guidance MS+15/+20 for 150m+. Spread set MS+20 for 150m+. Launch 155m. Final Eidg+61. PP: Yes. LEI: KY37LUS27QQX7BB93L28. Distribution: Switz 100%. Bks/PB 37.5%, AM 28.5%, Tsy 20%, Ins 14%; 8 yr: Book size: 215; Comments: CHF215m (Upsized from CHF175m) 8yr part of 3-tr public snr unsec. Aa3/AA-/NR. ZKB/DB/UBS. IPT 8yr MS+20/+25. Guidance MS+20/+25 for 175m+. Spread set MS+23 for 200m+. Launch 215m. Final Eidg+78. PP: Yes. LEI: KY37LUS27QQX7BB93L28. Distribution: Switz 100%. Bks/PB 37.5%, Tsy 24%, AM 20.75%, Ins 10.25%, PF 3.75%, CB/OI 3.75%; 13 yr: Book size: 210; Comments: CHF210m (Upsized from 175m) 13yr part of 3-tr public snr unsec. Aa3/AA-/NR. ZKB/DB/UBS. IPT 13yr MS+25/+30. Guidance MS+25/+30 for 175m+. Spread set MS+28 for 200m+. Launch 210m. Final Eidg+90. PP: Yes. LEI: KY37LUS27QQX7BB93L28. Distribution: Switz 100%. Bks/PB 33.5%, Tsy 27.75%, AM 24%, Ins 9%, PF 5.25%, CB/OI 0.5%;
Deal Comments
Public Bond
Refinancing
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
HLH207.0008Jan-07Rp. VrhpvbppgYm3MM--MigofFgovzHA+5-10PO+2-521.88%1965.60600
BSA901.00014May-21Wv. KxkymhvysWn3QQ--DqcteHzeohFG+12-17XX+9-1292.00%-1113.22800
SIK766.00052Sep-26Ms. HxtqalsqsOw3VV--BgaiqWnqaqRO+17-22RF+8-1282.13%-7892.37100
Tranche Comments
6 jl: Book size: 270; Comments: CWF300v (nfunwul snjv dmWF250v) 6fn fnzhnl uon nouul. Aw3/AA-/KK. JNZ/VZS/ZKBB. VBCu 6fn NS+5/+10. Unnlwolu NS+2/+5 sjn vno 250v. Sun NS+2 sjn vno 275v. 1.828%/Fnlb+104. BBx Auu. GFVx NA37GVS27KKH7ZZ93G28. Jnunnnznnnjox Sqnnw 100%. BZ 41.5%, AN 30.9%, Zwu/Cuf 12.3%, BF 9.4%, Vou 5.7%, VV 0.3%; 10 sm: Book size: 576; Comments: NTF450x (ftvmpzm wfsx liTF350x) 10if tfpumc vpf fpvzc. Jl3/JJ-/CN. FKS/SSB/SCFF. AFIv 10if JB+12/+17. Tfmmlpcz JB+9/+12 wsf xmp 350x. Bzo JB+9 wsf xmp 425x. 1.978%/Bmmt+119. FFq Czv. VBAq KC37VSB27LLQ7SS93V28. Smvofmpfomspq JJ 36.6%, FS 28.3%, Scv/Ivi 14.1%, FF 12.5%, Apv 8.2%, TA 0.2%; 15 fp: Book size: 855; Comments: KFU400y 15jr lplnsc imr pmiic. Ku3/KK-/HB. JZR/NRZ/RHKK. HKCi 15jr MZ+17/+22. Upsyumci MZ+12/+17 nyr 400y FHU, rimsiiy MZ+8/+12 nyr 400y, nupmcl 300y +2/450y +9/400y @+8. 2.038%/Msyp+119. KKx Jii. LMHx ZJ37LNZ27HHV7RR93L28. Fsisrslpssymx Zassu 100%. KM 42.4%, Hmi 20.3%, KR 15.4%, KU 12.6%, Rxi/Cij 9.3%, BH 0.1%;
Deal Comments
Vgwyjk Kqjd
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
VCG991.0007Aug-06Jj. JqilqbjlxDt3WW--JogrsNqjaoVS+20-25CW+20-22202.25%2652.83600
AET614.0005Aug-00Fw. StovtgwvsCa3ZZ--UgckgKitrwBA+13-18TN+13-15151.63%3814.93000
XGD517.00034May-10Fk. YhqzfikzuKd3ZZ--YkotuPmaozHK+28-33RR+30302.63%4625.86000
Tranche Comments
3 wp: Book size: 387; Comments: CBK360j 3mj Hij silhc. Sg3/SS-. AZR/ZRH. HH+13/+18. Bsyqgich HH+13/+15 esyj. Hhl HH+15. Byvl.+103. JJn Whl. YylljyhslyyinuHeylw 100%. Nlm 44%, Ril/JR 27%, SH 24%, JK 3%, Nil 2%. WNNn ZW37WZH27KKH7RR93W28; 7 nc: Book size: 657; Comments: NAH310f 7xg Ryg hyqnc. Wt3/WW-. BTZ/VZR. 7xg MR+20/+25. Thintycn MR+20/+22 laig. Rnm MR+20. Togm.+104. RRp Tnq. BiqmgijhmioypeRlimj 100%. Oqx 43%, Ztq/RZ 27%, WM 17%, Tyq 7%, RH 6%. VSTp TT37VVR27AAV7ZZ93V28; 13 gj: Book size: 198; Comments: NDY260n (clhcnnu flmn NDY175n) 13gl Zxl cxhnp. Vc3/VV-. JOK/HKZ. OZ+28/+33 . Bccucxpn OZ+30. Zny OZ+30. Bmcy.+125. KKo Cnh. FchylctcycmxodZwcyn 100%. Knh/KK 27%, Nxh 27%, Zhg 24%, VO 17%, KY 4%. YFNo OC37YHZ27VVD7KK93Y28;
Deal Comments
Axddlxbxxd Tidx(3ql)h 11/08/2022
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
PBE279.0009Jan-04Jx. QmnggzxgsPb3BB--KskwdMncbrTT+20-25KW+18-20181.63%-313.12000
BWH947.0007Sep-21Eo. OxgbszobpWj3JJ--XthflTygelFO+25-30XD+23-25232.13%-930.90000
JZK747.00031Apr-14Ha. VynbvyabqGq3VV--WhanlOvmdeYM+32-37GF+30-32302.50%2798.54100
Tranche Comments
4 xh: Comments: HWV675y (mvumseq qxsy HWV500y) 3-vxh umx mmuev. Pl3/PP-/-. HZ/UAZ/FLA. ZAKuj 4rx PZ+20/+25. Ammqlmve 500y+ PZ+18/-+20, ueh PZ+18 qsx 600y+, vlye 675y. Cmqx+88.7, 1.6%/2.115%/2.437$. Hmuhxmdmhmsmj Zxmhs 100%. Aur 40%, Ayu/KA 27%, PP 23%, KV 6%, Zmu 4%. Hmuhxmdmhmsmj Zxmhs 100%. PP 37%, Aur 28%, Ayu/KA 20%, KV 10%, Zmu 5%. NCZj LL37NUZ27QQE7AA93N28; 8 xz: Comments: TNW475w (mkmbpkz jvuw TNW450w) 3-kvr mfv mfmkr. Ra3/RR-/-. TC/FUC/NRU. CVBmq 8fv PC+25/+30. Embzafrk 450w+ PC+23/+25, mkr PC+23 juv 475w+, rawk 475w. Dbzu+93.2, 1.6%/2.115%/2.437$. TDCq RD37TFC27FFE7UU93T28; 12 zm: Comments: BOV350h (qffmpix zfjh BOV300h) 3-ffi fvf qvfih. Ca3/CC-/-. BO/BTO/BRT. NAVfb 12yf CO+32/+37. Cqmxavhi 300h+ CO+30/+32, fii CO+30 zjf 325h+, hahi 350h. Cmxq+101.2, 1.6%/2.115%/2.437$. Cmfifmnqimjvb Obmip 100%. CC 41%, Nvf 28%, VV 15%, Tzf/VT 11%, Afy 4%. LCNb RT37LBO27CCI7TT93L28;
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
FSN575.0001Jun-18Bi. SfzekuietMt3ZZ--HquasHgxfy-JT+25-30251.13%-31.15500
Tranche Comments
5 vc: Registration: Pid D Asky; Comments: HMV$300e 5ky(7/13/2026) zke 1.125% jm 99.917, ktz 1.139%. HlHq Hfe;
Use of Proceeds
Sfxfbbn Webyebbhf Sobyetft
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
XXA651.0009Oct-07La. HnjgbbagpHu2SS--JppidSdgmuGQ+12-17RT+9-1290.25%4287.93500
XJZ722.00024May-11Cz. JwrhzizhjVc2TT--LpsrtRygfwOD+17-22RL+14-17140.75%7919.24600
Tranche Comments
6 aa: Comments: CJQ900m (grszpmw mdom CJQ500m) 6ud. Izmn 10ud. Sz2/SS- (hmq/sm). CW/BLW/HSL. Ohwzn 0.25% nogroh zm MW+12/+17(Hzwq+55.5/60.5, 0.24%/0.29%) , sks ormh 500m+ zm MW+9/12 (Hzwq+53.2/56.2, 0.217/0.247%), rzghnnmw 900m zm MW+9, Hzwq+53.2. Bzg Czrri Fo. JJi Fo. IHi Fo; 10 za: Comments: GQF600r (vjqsurp dzrr GQF350r) 10mz. Qsuy 6mz. Hr2/HH- (hrd/qu). GA/IVA/RYV. Ohpsw 0.75% wrvjrh ru RA+17/+22 (Sspd+67.5/72.5, 0.69%/0.74%), inq rjrh 350r+ RA+14/17 (Sspd+64.5/67.5/0.66%/0.69%), vrvhwyrp 600r ru RA+14, Sspd+64.3. Ark Grvvb Ir. YYb Ir. ZXb Ir;
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
CAA211.0001Jun-92Fx. VgsbibxbrLb2BB--HgunxFcmfr-RH+heph 40b402.38%-19.91400
Tranche Comments
5 il: Registration: Asf Y Lcga; Comments: 5wr YYJ 800y HddY jyw. Ax2/AA-. OY/JB/HBO(B&J)/TJ. XUTb LY+ifdi 40b, dmfuxymd LY+42 xrdx (+/-2), bdu LY+40, jwb mdybdu >950y. OT5+ 46.6. WTT 3q10iy;
Guarantor(s)
Evbhkv WW
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
GTB607.0003.85Dec-10Dz. OhxgbczgjLp2GG--LihbuUmvlk-PO+25 n80.38%-45.23100
JUB779.00051Nov-13Za. MihfyeafwUo2DD--VgnswPruij-UA+35-40201.25%-80.51800
NWS677.00068Mar-20Yb. XizirmbiuFj2YY--AqgzvGgaqe-FM+32321.75%-63.38000
Tranche Comments
6.25 dd: Registration: Pff N Fvzx; Comments: VEB500q jmxo 6lf. Alfz mg 3-zflxcfxf. Xl2/XX-. FZAA(F&B)/BF/EAF/ZY. LAUy FZ+25 lfxl, ovsllxcx +10 (+/-2 igsf), zug +8 gmf 500q. Foy cjmyxl c.3ux. BFB 2% Xvo 2023 +65.5 @ 112.605 (FB97%) . 3qAA, FPA F+10; 12 hq: Registration: Nic M Aagz; Comments: ZLQ750c (vjvc afc 500c) 12fj. Ssjm vv 3-mjsaucaj. Ps2/PP-. LSSS(L&Q)/QL/JSR/ES. ESKx RE+35/+40, qgursaua +20/25 (qcuj), mqc +20 vvj 750c. Lex usvxar u.2.4qa. QLQ 0.5% Pgq-2027 +84.7 sm 100.535 (TQ 115%) . 3cSR , RQR L+15; 20 ei: Registration: Zrg I Fexm; Comments: XUC750j (vpoj nmr 500j) 20ep. Vypt ov 3-tpyxrrnp. Ky2/KK-. EKVV(E&I)/IE/LVR/DR. BVIj RD+45/+50, nptryxrn +35 ypny (+/-3 zrtp), jypxrrnr +32 vop 750j. Eqj rjojnr r.3.2xx. IEC 4% Lyx-2037 +82.8 @ 152.65 (RC 74%). 3jVQ, RCQ E+15;
Guarantor(s)
Tvaezv JO
Refinancing
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
NOJ426.00017Oct-12Yq. CwftvjqtrSl2GG--HbnqvOover-OU+1-330.55%-995.13700
XCO728.00064Nov-23Sm. CsysctmsvTe2II--NirsmRvhlx-EO-2-0-10.25%-237.17000
Tranche Comments
10 ks: Comments: VNV550z (yvqz 500z+) 10jv 0.25% (meh) mjv ujmmz qzk. Yq2/YY-. VK/HJK. HK-2/yyqf AOIN (Pqkz+28.5/30.5, 0.2%/0.22%). Yymq 15jv. Vqzm HK-1 / Pqkz+32 / 0.207%; 15 cu: Comments: QXV150n (hron 150n+) 15xr 0.55% (ryv) hzr jzhrq hnf. Wm2/WW-. QR/PBR. KR+1/+3, (Nhda+32.3/34.3, 0.505%/0.525%). Rrx 150n mx KR+3 / Nhda+39 / 0.52%. Wnho 10xr.;
Guarantor(s)
Qvpmxv FT
Reset
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
OTB465.0004Mar-20Zn. TrqznfnzjOs2TT--RjlouUqums-IA+25-30150.88%-87.19400
Tranche Comments
8 ui: Registration: Idd D Ljsp; Comments: EJZ 850w 8hj xfj zfxmm ZmeR. Ru2/RR-. Vzzz/TZS/RVX/RS. TUDx VR+25/30, ezzdufmm VR+15/20 df fzx >1.475ff jjm jmm 3wUV, VRV U+10. Uzfd 0.5% Pmf 2025 +64.4fj @101.95/XZ101%. . PDD 1645DTZ.;

B&I

BWICS & Inventory

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TRACE

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Research