InfraDefenceThe capital behind defence.
Financing terms / selected comparisons

Financing benchmarks

Compare defence financing terms deal by deal: bond coupons, bond tenors, convertible premiums, government money, M&A values, venture rounds.

Randeep Bubbra | Lawyer | Making defence financeable

182 fixed-rate US dollar tranches in the register pay coupons from 0.67%–7.5%. Each dot is one tranche, placed by its issue date and shaded by its rating at issue. 208 bond tranches run from 2 to 41 years at issue; the median is 8 years. 5 convertibles with terms on file priced at conversion premiums of 25%–45%; the median is 35%.

01 · Bond coupons0.67%–7.5%US$ fixed-rate couponsExplore02 · Bond tenors2–41 yrstenor at issueExplore03 · Convertible premiums25%–45%conversion premiumExplore04 · Government moneyUS$80m–US$169.5bnper financing, US$Explore05 · M&A valuesUS$962mmedian disclosed deal valueExplore06 · Venture roundsUS$68mmedian disclosed roundExplore

Read the basis beside the number. These are selected historical observations from the register, not a market census, investment recommendation or legal advice. How the register is built →

Randeep Bubbra
InfraDefence Weekly

The week in defence finance, read from the filings.

Deals, terms and the clauses behind them, for the people financing primes, mid-tiers and new defence technology. By Randeep Bubbra.

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