January 3, 2018 / 12:32 PM / 2 months ago

Ireland sizes May 2028s at EUR4bn

LONDON, Jan 3 (IFR) -

* Final terms: EUR4bn at MS+2. Books closed EUR14bn+ (1.45bn JLM). MS is B&D and DM. Allocs and pricing later today. (12:31pm)

* Spread set at MS+2. Books EUR14bn+ (1.45bn JLM) and closing at 11:30am. (11:01am)

* IoIs EUR10bn+ (1.55bn JLM). Guidance MS+3 area. ISIN IE00BDHDPR44. (9:32am)

* IPTs MS+5 area, benchmark size, pricing today. Due 15 May 2028, pay 10 Jan, Irish law, Dublin listing, 0.01 denoms, Reg S registered. Short first coupon to 15 May 2018. . (8:10am)

IRELAND, rated Moody’s A2 (Stable), Standard & Poor’s A+ (Stable), Fitch Ratings A+ (Stable), has mandated CITI, DANSKE BANK, DAVY, J.P. MORGAN, MORGAN STANLEY and NOMURA as joint lead managers for a forthcoming long 10-year Euro RegS benchmark transaction, maturing 15 May 2028. The syndicated transaction is expected to be launched and priced in the near future subject to market conditions. FCA/ICMA stabilisation. The target market for the Bonds is eligible counterparties, professional clients and retail clients (all channels for distribution), each as defined in MiFID II. (Jan 2)

*** FV using yesterday’s pre-announcement levels of May 2026 and May 2030s is MS+1.5

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