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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
INDS
PRCD
INPST
IS Iris Lux Bidco Sarl€700
1EMEA
Oct 1, 2026
currency
EUR
size (m)
700.000
maturity
Oct 9, 2033
type
Fixed
tenor
7.000
call
3.00
registration
144A/Reg S
benchmark
DBR
ranking
Sr. Secured
moody's
Ba3
s&p
BB
fitch
-
size description
Minimum
re-open/tap
No
ipt
6.00%-6.25%
ipt-pxd
-12.5
guidance
6.00%-6.25%
spread
265
coupon
6.00%
spread set
-
price
100.00000
yield
6.00%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
First Pay: 2027-03-15; Redemption: 2029-10-09; Registration: 144A/Reg S; Comments: CoC: 101%. Regulatory Call: Yes. Tax Call: Yes; RegS ISIN: XS3516275578;
Deal Comments
Could increase by up to €25mm depending on what the company accepts post tender expiry. Company expects to accept €450mm, leaving €400mm in place. This deal was upsized from EUR400m to EUR675m
Use of Proceeds
Alongside a pre-placed €1,135m-equivalent PLN TLB, proceeds will be used to: i) finance the acquisition of the company by the shareholders, ii) fund cash to balance sheet, iii) tender all or a portion of the €850m existing 2031 SUN via priority tender, and iv) pay transaction fees and expenses