| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| EUR | 650.000 | - | - | Unsecured | Ba1 | NR | BB+ | Fixed | Swaps | 3% a | 2.625% a | 292.4 | 2.50% | - | 100.00000 |
| EUR | 850.000 | - | - | Unsecured | Ba1 | NR | BB+ | Fixed | Swaps | 3.5% a | 3.125% a | 331.9 | 3% | - | 100.00000 |
Tranche Comments
P NC 5.5: Book size: 1400; Redemption: 2026-07-01; Registration: Reg S Only; Comments: EUR650m dual tranche PNC5.5yr + PNC8yr hybrid RegS, total 1-1.5bn. Ba1/NR/BB+. struc Citi(B&D)/CMZ/HSBC. PNC5.5 IPTs 3% area, guidance 2.625% area, launch 650m @ 2.5%, bk >1.4bn (peak ~1.75bn). MS+292.4 / B+322.5 v DBR 0.500 02/15/2026 @ 106.37, FTT 7.30am Thurs;
P NC 8: Book size: 1800; Redemption: 2029-01-20; Registration: Reg S Only; Comments: EUR850m dual tranche PNC5.5yr + PNC8yr hybrid RegS, 1-1.5bn total. Ba1/NR/BB+. struc Citi/CMZ/HSBC(B&D). PNC8 IPTs 3.5% area, guidance 3.125% area, launch 850m @ 3%, bk >1.8bn (peak ~2.3bn). MS+331.9 / B+365.5 v DBR 0.250 08/15/2028 @ 107.06. FTT 7.30am Thurs;
Deal Comments
Subordinated Hybrid Issue
Guarantor(s)
Wintershall Dea GmbH