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3/15-year syndication: Final terms

EFSF ISSUANCE

3-year 2.75% Aug-26 tap:

  • Tranche Size: E1bln (MNI had expected between E1.0-2.5bln)
  • Books closed in excess of E2.2bln (inc E400mln JLM interest)
  • Spread set previously at MS-20 bps (in line with initial guidance)
  • ISIN: EU000A2SCAF5 (immediately fungible)
New 15-year Aug-38:
  • Tranche Size: E2bln WNG
  • Books closed in excess of E8.4bln (inc E480mln JLM interest)
  • Spread set previously at MS+28bp (guidance wasMS+30 bps area)
  • Coupon: TBC, ACT/ACT ICMA
  • Maturity: 30 August 2038
  • ISIN: EU000A2SCAK5

For both:

  • Bookrunners: Commerzbank, HSBC, Nomura (B&D/DM)
  • Settlement: 30 August 2023 (T+5)
  • Timing: Allocations out shortly
From market source

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