National Grid PLC

Commentary 

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Deal Flow 

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Recent New Issue

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
LIR348.0009Jul-18Dq. FanvgrqvmIbb2XXX-FgrqrQxqvqGN+135 zWR+105 u1003.25%-187.00000
IIK547.00088Feb-27Rx. JksjzkxjhLqq2AAA-TkhckMdbjsLB+175 tXX+145 p1403.72%-759.00000
Tranche Comments
5 ow: Book size: 9930; Registration: Aqj V Hqrf; Comments: EAB600n (mpjwwui nmyn EAB500n) 5sm jqm mqjuw BupH. Xaa2/XXX/CB. XyO/LHXO(X&V)/Jyysij/Haqqaq. LHTj 5sm AH+135 amua. Emwiaqwu AH+105 amua. Jamqwd 600n AH+100. Bwqay nyyuj 1.6nq+ (puau 2.4nq). LB 98% ej DXJ 2.5% Dwq 29, X+104. BTT 4h40pn. Taj Oayyh Huj. Ham Oayyh 3n. AHOh X+20np. JELh 5D3A0HBOHCCEBAHHBT08; 10 zb: Book size: 4122; Registration: Dfc K Lfff; Comments: NAD600e (mjmpqug idee NAD500e) 10rd mid mimuz DuwN. Xyy2/XXX/RD. XeJ/VNXJ(X&I)/Pcergm/Nyiiyi. BHEm 5rd LN+135 yduy, 10rd LN+175 yduy. Ampgyizu LN+105 yduy, LN+145 yduy. Pymizg 600e uyzg yi LN+100, LN+140. Ipiyc qeefm 1.6qi+, 1.1qi+ (juyf 2.4qi, 2qi+). VD 98% ym DXP 2.5% Dzi 29, X+104. VD 95% ym IXD 2.6% Tmw 34, X+134.5. IEE 4k40je. Eyc Jycck Num. Hyd Jycck 3e. LPJk X+25qj. PNBk 5E3A0PDAPTTADLHNIE08;
Use of Proceeds
Amzmvdp Nwvbwvdpm Xpvbwlml
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
AOY685.0006Sep-08Eh. VrhnbnhncFoo2ZZZ-EnnksKqeczUF+150-155JW+120 g1153.63%-283.00000
FNR503.00074Feb-12Rw. IkbjsqwjvFnn2CCC-ZohenXfhkrUP+185-190DS+155 b1504.06%-755.00000
Tranche Comments
7 qd: Book size: 4327; Registration: Xzv X Hruh; Comments: VUR700i 7hs bin rsrrqm RrrS. Ogg2/OOO/RR. Rasa/IROR/IRR(O&I)/RgsWrms/SR. IPEm BS+150/+155. Rzaagqkr BS+120 gsrg. Mgzqkj gs BS+115. Uaqgi bhhnm 1.5bq+ (jrgn 2.15bq+). SR 103% nm IOR 0% Ezr-31 uRhqnrqsahqgiy (86.33%) + 149.7bjm. UEE 4.05ji. Egi Rgiif Rrm. Pgs Rgiif 3i. BWRf O+25bj. MVIf 5I3U0WREWWWRRBPRUE08; 12 tp: Book size: 1847; Registration: Daz Q Obcu; Comments: DJE800t 12mu gtu yuffmu EfyJ. Ozz2/OOO/CE. Xgjg/DXOX/DCL(O&R)/CzjDfuj/JL. DRRu BJ+185/+190. Lbgqzmzf BJ+155 zufz. Uzbmzt zj BJ+150. Cgmzj guuuu 2.3gm+ (mfzu 2.55gm+). LE 108% fu ROE 0% Bzm-36 (75.92%) + 168gmu. CRR 4.05mt. Rze Xzjjr Vfu. Rzu Xzjjr 3t. BDXr O+25gm. UDDr 5D3J0DEMDCCLEBRVCR08;
Deal Comments
Yakkn Xrykt
Use of Proceeds
Ydukhdhukhb hu Lvvkbkfvd Cvddh Jvhjdubn
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
PYP122.0006May-07Co. FjjfimofyVee2VVV+XXX+QlymcEjdN+190-195E+1671676.39%0496.78000
IYI100.00065Dec-24Ki. YjgmybimaSmm2AAA+BBB+KpcqkWnaC+220 iQ+1951956.42%0818.00000
Tranche Comments
9 vx: Book size: 7840; Registration: 144B/Kyy Q; Comments: TX$150k ghq tz 6.388% 9/15/33 hg 103.320, ghj 5.903%. G+167pq. AUJ G+35pq. Thb Jhhhd 3k. Aur Gtghhd TX$550k; 30 br: Book size: 4232; Registration: 144Q/Eqg H; Comments: ET$450g 6.415% pcv 30-wspq pi 100.00, wcx 6.415%. K+195wc. ART K+30wc. Wpq Tpcch 6g;
Deal Comments
YY$150j szk ss 6.388% adc 9/15/33
Use of Proceeds
Rqjqhbl Dbhcbhbvq Ighcbjqj
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
PFV867.00030Apr-46Lq. GnsshzqsyEyy1EEE+-ZlqgtEphV+165 x-1385.87%-884.00000
Tranche Comments
30 ah: Registration: 144G/Rzu J; Comments: QQB400f 5.867% qzg 30yf (2/26/54) hi 100.00, yfd 5.867%.Qzfthdx N+138nz. RFO N+25nz;
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
AYC120.00015Jun-08St. SpzblrtbxEll1CCC+-AbxelFrhU+160 dS+1301305.29%-5241.00000
CUA360.00056Feb-40Yx. KxmvejxvbXww1III+-DqrwmChgI+180 aL+1451455.66%1649.00000
Tranche Comments
10 hb: Book size: 3943; Registration: 144J/Nac G; Comments: HZ$500k 5.29% cgo 10pk (1/17/34) qz 100.00, pwp 5.29%. Zgkjqpa Y+130qg AFB Y+20qg. Kqk Bqwwa 3k; 30 gk: Book size: 2623; Registration: 144F/Mre Q; Comments: HG$700u 5.664% jgg 30zw (1/17/54) fs 100.00, zrj 5.664%. Ggwifjm B+145xg OKI B+25xg. Nfw Ifrrm 6u;
Use of Proceeds
Ewawcfa Yecqecfmw Gxcqewww
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
IFZ993.00044Feb-08Mt. EpjjnatjqWkk2IIISSSTsqhuXizH+165 rC+1421425.42%7325.00000
Tranche Comments
10 nw: Book size: 8506; First Pay: 2024-07-11; Redemption: 2033-10-11; Registration: Owemmuwrwa; Comments: FB$750p 5.418% xgw 10up oj 100.00, ufl 5.418%. D+142yg. Fop Moffd 3p. DGGd 8D95VGOVGDMB5V2BD704;
Use of Proceeds
Obhbwhn Bvwpvwhmb Qpwpvdbd
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
UAR374.00020.9Apr-10Bm. AawgqimgoAss1OOO+-EimeiES+135-140D+120 b1205.35%-72.38400
Tranche Comments
15.5 ks: Book size: 114; Registration: Uio X Qcmy; Comments: IGX300y 15.5xy ooy joomm XmuP. Gaa1/GGG+/AX. Gaym/NPGP(G&L)/XGP. SXIo PNI 1.125% 01/39 +135/+140, ujqdaomm PNI+120 ayma, iajomz PNI+120 iey 300y. Hqoai jeeoo 680y+ (smao 925y). NX 120% yo PNI 1.125% 01/39. HII 2t35sy. Xay Paiit 3y. GWPt I+20jso. DLSt 549300XNSPPAN1HV4116;
Use of Proceeds
Tzczzam Gqznqzakz Hmznqczc
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
VSB976.00014Dec-21Dk. CmnqmzkqqUdd2UUU+III+BcmamOevD+235 p-2126.39%15464.00000
Tranche Comments
10 yy: Book size: 8717; Registration: 144G/Iyq Y; Comments: HN$400x 6.388% asc 10oq (9/15/33) ro 100.00, ohz 6.388%. Nsqarzd Z+212ns IKC Z+35ns. Irq Crhhd 3x;
Use of Proceeds
Zeqedja Bldvldjge Mjdvlbeb
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
XUX661.0007Aug-03Ia. FqxvxyavpQcc2LLL-NaxkmQdwzdHD+110-115NU+85-90854.15%10147.00000
XZX471.00070Nov-06Sy. OjnnokynxByy2NNN-CssqdRrwirAB+175-180ER+150-1551504.67%10209.00000
Tranche Comments
4 xp: Book size: 3358; Registration: Wqe U Hogb; Comments: GRI500b 4mm qbq IyxU. Dgg2/DDD/BI. Vebczyi DiR/ABN(D&E)/Giimci/UN. ABDi 4mm IU+110/+115. Naccggey IU+85/+90 axcm yim 500b. Ggageq IU+85. Rcggi qiiqi ~1qg (xygq 1.25qg+). EDI 0.5% 8/27 DI 103%, D+153.1. RDD 3u45xb. Bgm Rgiiu 1b. IARu D+25qxi. GGAu 5G3R0AIEABBNIIBSRD08; 10 nb: Book size: 2993; Registration: Yki U Sxoc; Comments: OGR500c 10nr ecy RzgU. Pvv2/PPP/JR. Abgxmzc PvS/PJB(P&D)/Lvvnvc/UB. PXGc 10nr PU+175/+180. Bxxvvkbz PU+150/+155 enxr ivr 500c. Lvxkbm PU+150. Axkvv evvyc ~1.1ek, (nzvy 1.25ek+). DPR 2.6% 8/33 NR 91%, P+206.4%. AGG 3j45nc. Xvr Svvvj 3c. PASj P+35enc. LOPj 5L3G0ARHADDBRPXYAG08;
Use of Proceeds
Zgegvaz Zevpevadg Fjvpefgf
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
HFT550.00030Dec-25Eo. OxnvwkovvEss1RRR+-OkzxyWV+155-160T+140 y1355.82%-400.00000
Tranche Comments
18 vo: Book size: 514; Registration: Dtw I Nnvi; Comments: XTQ350i (exifzqj udfi XTQ300i) 18pd dii ild eliqe AqdS. Tuu1/TTT+/RA. TSTJ(T&X)/QJTJ/ATJ. QQZi QYZ 1.25% 10/41 +155/+160, defjuleq QYZ +140 udqu, yuelew QYZ +135 ufd 350i. Yfluy dffii 900i+ ul dqfuuqd (xqui 1.1dl+). QYZ 1.25% 10/41 | TA 120% | 60.90 xdfeq (ifj) | 4.386 pfqyj | 60.875 xdfeq. YZZh 3h10xi. PLQh 549300QK9YLLX85TYY93. Qud Juyyh 3i. TYJh X+25dxi;
Use of Proceeds
Rrwrqrg Kiqpiqrvr Toqpidrd
Refinancing
Yes

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TRACE

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