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Dual-tranche: 5/15-year: Priced

EFSF ISSUANCE

New 5-year

  • Reoffer: 99.509 to yield 2.724%
  • Tranche Size: E5bln (MNI had expected E4-5bln)
  • Books closed in excess of E23.8bln (ex JLM interest)
  • Spread set earlier at MS+11bps (guidance was MS+13 bps area)
  • Coupon: 2.625%, ACT/ACT ICMA, Short 1st
  • HR 111% vs 0.25% Feb-29 Bund @ 91.195 (2.088% / +63.6bps)
  • Maturity: 16 July 2029
  • ISIN: EU000A2SCAM1
  • TOE: 13:53GMT, FTT immediately

15-year (3.375% Aug-38)

  • Reoffer: 102.310 to yield 3.174%
  • Size: E2bln (WNG)
  • Books in excess of E19.7bln (ex JLM interest)
  • Spread set earlier at MS+46bps (guidance was MS+48 bps area)
  • HR 109% vs 1.00% May-38 Bund @ 83.080 (2.409% / +76.5bps)
  • ISIN: EU000A2SCAK5 (immediately fungible)
  • TOE: 13:49GMT, FTT immediately

For both:

  • Settlement: 15 January 2024 (T+5)
  • Bookrunners: BNP, BofA, J.P. Morgan (DM/B&D)

From market source

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