EUR MTNs: CMS, repacks and inflation

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Callable euro MTNs took a back seat to CMS, repacks and inflation-linked notes over the last week.

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Callables

CAFFIL sold a €10m 30y NC10 callable due Aug 2053. Coupon pays 3.844% with single call in Jul 2033. Led by DZ.
Barclays sold a €3.5m 10y NC6 callable due Aug 2033. Coupon pays 4.1% with annual calls from Aug 2029. Self-led.

Repacks

SPIRE sold a €50m CMS-linked repack due 13 Feb 2042. The note priced at 104.70 and pays EUR 20y CMS + 1.22% from 2024. Backed by an unspecified repack. Lead is BofA.
SPIRE sold a €50m inflation-linked repack 1.65% due 15 Apr 2028. Coupon and redemption linked to euro HICPx. Repack unconfirmed. Led by DB.
SPIRE sold a €50m inflation-linked repack 1.67% due 15 Apr 2028. Coupon and redemption linked to euro HICPx. Repack unconfirmed. Led by DB.
SPIRE sold a €37m inflation-linked repack due 15 Apr 2029. Coupon and redemption linked to euro HICPx. Repack, lead and details unconfirmed.

CMS

Santander sold a €30m CMS-linked EMTN due Oct 2033. The note pays EUR 20y CMS +1.271% capped at 7% and floored at 2%. Self-led.
NBC sold a €50m CMS-linked EMTN due Apr 2028. The note pays EUR 20y CMS +1.10% floored at 0%. Lead is Deutsche Bank.
BMO sold a €50m 5y CMS-linked EMTN due Apr 2028. Pays EUR 20y CMS +1.10% floored at 0%. Lead is Deutsche Bank.

Inflation

Natixis sold a €50m inflation-linked note 1.6% due 27 Jul 2034. The note is linked to euro HICPx inflation floored at 0%. Self-led.

Collared FRN

Deutsche Bank launched a €10m (max) collared FRN due Aug 2026. Pays 3mE capped at 5% and floored at 3.2%. Lead is UBS.
Erste launched a €150m (max) collared FRN due Aug 2030. Pays 3mE capped at 6% and floored at 3%. Self-led.

Credit-linked

Goldman Sachs launched a €10m credit-linked note 4.75% due Dec 2028. Credit-linked to CDX and iTraxx indices. Self-led.
BNP Paribas issued a €5m credit-linked note 4.7% due Jul 2026. Credit-linked to UniCredit. Self-led.
DZ Bank launched a €25m (max) credit-linked note 5.52% due Jun 2031. Credit-linked to VW. Self-led.
DZ Bank launched a €25m (max) credit-linked note 4.52% due Jun 2031. Credit-linked to Deutsche Telekom. Self-led.
DZ Bank launched a €25m (max) credit-linked note due Jun 2029. Coupon pays 3mE +146bps. Credit-linked to Zurich Insurance. Self-led.

Equity-linked

SocGen launched a €30m (max) equity-linked note due Jul 2028 linked to the Solactive Hydrogen Selection PR Index. Self-led.
SocGen launched a €30m (max) equity-linked note due Oct 2028 linked to the Euro Stoxx 50 Index. Self-led.
SocGen launched a €40m (max) equity-linked note due Jul 2026 linked to the SHSE-SZSE CSI300 Index. Self-led.
Goldman Sachs launched a €30m (max) equity-linked Autocallable note due Oct 2033 linked to the Morningstar Developed Europe Auto Defense and Semi-Conductors Select 30 Decrement 50 Point GR EUR Index. Self-led.
Goldman Sachs launched a €45m (max) equity-linked Memory Phoenix Autocallable note due Jul 2027 linked to the Euro Stoxx 50 Index. Self-led.
Citigroup launched a €30m (max) equity-linked Snowballing Autocallable note due Dec 2033 linked to the Morningstar Eurozone 40 Decrement 50 Point GR EUR Index. Self-led.
Barclays launched a €30m (max) equity-linked Worst-Of European Barrier Autocallable note due Jul 2028 linked to a basket of ASML and BNPP. Self-led.

Long vanilla

DZ Bank sold a €25m zero coupon EMTN due Aug 2043 with an estimated IRR of 4.01%. Self-led.
NordLB sold a €20m note 4.125% due Aug 2038. Self-led.
NordLB sold a €10m SNP 4.60% due Aug 2037. Self-led.
Credit Agricole issued 8 covered bonds of €3.25bn each maturing from Dec 2033 to Jun 2037 with coupons ranging from 3.405% to 3.463%. Self-led.
RBC sold a €20m tap of its EMTN 1.034% due Jan 2034. Self-led.