| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| EUR | 500.000 | 6 | Oct-30 | Sr. Unsecured | - | BBB | BBB+ | Fixed | Swaps | MS+140 a | MS+105-110 | 100 | 3.25% | 0 | 99.86000 |
| EUR | 500.000 | 10 | Oct-34 | Sr. Unsecured | - | BBB | BBB+ | Fixed | Swaps | MS+175 a | MS+140-145 | 135 | 3.63% | 0 | 99.04700 |
Tranche Comments
6 yr: Book size: 3400; First Pay: 2025-10-02; Registration: Reg S Only; Comments: EUR500m WNG 6yr part of 2-tr snr unsec bmk RegS. NR/BBB/BBB+. Actives MS(GloCo/logis/B&D)/Barc/Caixa/Citi/ING/IMI/SG. Pass BBVA/Natx/Santan/SMBC/Uni. IPTs 6yr MS+140 area. Guidance MS+105/+110. Launch MS+100. Final books 3.4bn+ (peak 3.8bn+). DBR 0% 08/15/2030 + 136.3bps @89.450/ HR: 104%. Tender offer for EUR1bn Jan 2026 (XS2156506854) / EUR600m Apr 2026 (XS1396767854) / EUR1bn Jan 2027 (XS1551446880) / EUR800m May 2025 (XS1718393439) / EUR850m 2028 (XS1755428502). NIC 0bp. FTT 4:30pm. Par Call: 3m. Cleanup Call: 75%. MWC: B+20bp. CoC: Put. LEI: 2138005FTXOJUBQ5J563;
10 yr: Book size: 3600; First Pay: 2025-10-02; Registration: Reg S Only; Comments: EUR500m WNG 10yr part of 2-tr snr unsec bmk RegS. NR/BBB/BBB+. Actives MS(GloCo/logis/B&D)/Barc/Caixa/Citi/ING/IMI/SG. Pass BBVA/Natx/Santan/SMBC/Uni. IPTs 10yr MS+175 area. Guidance MS+140/+145. Launch MS+135. Final books 3.6bn+ (peak 3.7bn+). DBR 2.6% 08/15/2034 + 159.9bps @104.030/ HR: 91%. Tender offer for EUR1bn Jan 2026 (XS2156506854) / EUR600m Apr 2026 (XS1396767854) / EUR1bn Jan 2027 (XS1551446880) / EUR800m May 2025 (XS1718393439) / EUR850m 2028 (XS1755428502). NIC 0bp. FTT 4:30pm. Par Call: 3m. Cleanup Call: 75%. MWC: B+25bp. CoC: Put. LEI: 2138005FTXOJUBQ5J563;
Deal Comments
Active Bookrunners: MOS(B&D), BRC, CAI, CTI, ING, IMI, SOC. Passive Bookrunners: BBV, NAT, SNT, SMB, UNI
Guarantor(s)
Naturgy Energy Group SA
Use of Proceeds
Funding of the concurrent tender offer