Rating: A3/BBB+/A
Amount: €1.35bn
Maturity: 10 April 2029
Issue/reoffer price: 99.135
Coupon: 1.25%
Spread at reoffer: mid-swaps plus 82bp
Launched: Wednesday, April 3
Payment date: April 10
Sole bookrunner: Citi
Market appraisal:
“…Citi was a little bit slow. It was a 10 year deal, which can be a bit trickier. It was quite an odd size at €1.35bn as well. But it was still a good print. It came through their dollar pricing and probably paid 3bp-5bp new issue premium.”
“…you can do just about any maturity right now. If I were an issuer, I would go out as long as I possibly could.”