Successful Issuance of USD 500m 3.125% Benchmark due 16th May 2025
On May 11th 2022, EUROFIMA successfully issued a new 3-year USD 500 million RegS benchmark due May 16th 2025. The coupon is set 3.125%, which translates into SOFR MS+33bps and a spread of 22bps over the 2.75% US Treasury.
The transaction recorded strong momentum from the outset, benefiting from strong participation of high-quality orders from around the world with an orderbook reaching USD 950 million.
Over 31 investors participated in the offering with Central Banks and Official Institutions across the globe representing 93% of the demand, followed by Asset Managers at 5%, Insurance Funds at 1% and Banks at 1%. Regional investor distribution was equally as diverse with 34% of the transaction going to Asia, 29% to Europe, 20% to MEA and 16% to the Americas.
Use of proceeds will be for internal liquidity needs. The issuer carries an ESG rating of 5.2 from Sustainalytics and the deal is listed on the Luxembourg Green Exchange as EUROFIMA is a 100% Climate Aligned issuer.
Read more in our deal review