January 14, 2025 14:46 GMT
EU-BOND SYNDICATION: New 3-year / 30-year tap: Priced
EU-BOND SYNDICATION
New 3-year:
- Reoffer: 99.999 to yield 2.628%
- Spread set earlier at MS+17bps (guidance was MS + 19 bps area)
- HR 105% vs 2.20% Apr-28 Bobl +32.4bp (ref 99.675 / 2.304%)
- Tranche size set earlier at E6bln (guidance was E5bln, MNI expected E5-7bln)
- Books closed in excess of E82bln (inc E5.75bln JLM interest)
- Maturity: 4 July 2028
- Coupon: 2.625%, short first coupon
- ISIN: EU000A4D5QM6
3.375% Oct-54 Tap:
- Reoffer: 94.8089 to yield 3.664%
- Spread set earlier at MS+127bps (guidance was MS + 130 bps area)
- HR 91% vs 2.50% Aug-54 Bund + 82.0bp (ref 93.15 / 2.844%)
- Tranche size set earlier at E5bln in line with guidance (MNI expected E4-6bln)
- Books closed in excess of E115bln (inc E5bln JLM interest)
- Highest book for a tranche since 2021
- ISIN: EU000A3K4EY2 (Immediately fungible)
For both:
- Settlement: 21 January 2025 (T+5)
- JLMs: Barclays, BNP Paribas, J.P. Morgan (B&D/DM), LBBW, NatWest Markets
- Timing: TOE 14:29GMT / 15:29CET. FTT immediately
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