Bending Spoons Operations SpA (BENSPO)

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Bending Spoons Operations SpA (BENSPO)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	TECH	PRCD	BENSPOBENSPO	Bending Spoons Operations SpA, Bending Spoons US Inc	-		2	EMEA	Oct 28, 2026

Tranche #1Bending Spoons Operations SpA

currency

EUR

size (m)

500.000

maturity

Jan 31, 2032

type

Fixed

tenor

5.250

call

2.00

registration

144A/Reg S

benchmark

DBR

ranking

Sr. Secured

moody's

Ba3

s&p

BB-

fitch

BB+

size description

re-open/tap

ipt

Low 9%s

ipt-pxd

-50

guidance

8.75%-9.00%

spread

548

coupon

8.625%

spread set

price

100.00000

yield

8.625%

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 #2Bending Spoons US Inc

currency

USD

size (m)

1,250.000

maturity

Jan 31, 2032

type

Fixed

tenor

5.250

call

2.00

registration

144A/Reg S

benchmark

Tsy

ranking

Sr. Secured

moody's

Ba3

s&p

BB-

fitch

BB+

size description

re-open/tap

ipt

Low 10%s

ipt-pxd

-50

guidance

9.75%-10.00%

spread

478

coupon

9.625%

spread set

price

100.00000

yield

9.625%

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: 2027-07-31; Redemption: 2028-10-31; Registration: 144A/Reg S; Comments: MWC: B+50. CoC: 101%. RegS CUSIP: 354882884. RegS ISIN: XS3548828840; First Pay: 2027-07-31; Redemption: 2028-10-31; Registration: 144A/Reg S; Comments: MWC: T+50. CoC: 101%. RegS ISIN: USU0813WAA19;

Deal Comments

USD: This tranche was upsized from $1bn to $1.25bn. EUR: This tranche was set at EUR500m (up from US$500m equiv)

Use of Proceeds

Fund future acquisitions and GCP (US$300m upsize for GCP)

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	PRICED: Bending Spoons $1.8bn equiv 5NC2 sr sec 2-part, E500m 8.625% at 100; $1.25bn 9.625% at 100	01:58 PM ET
	LAUNCH: Bending Spoons $1.8bn equiv 5NC2 sr sec 2-part, E500m at 8.625%; $1.25bn at 9.625%	09:42 AM ET
	PX TALK/UPSIZE: Bending Spoons $1.8bn equiv 5NC2 sr sec 2-part, E500m 8.75-9.00%; $1.25bn 9.75-10.00%, pxg today	06:33 AM ET
	RATED: Mdy's/S&P/Fitch rate Bending Spoons $1.5bn equiv 5NC2 sr sec 2-part, EUR ($500m equiv) and US$1bn Ba3/BB-/BB+	Oct 27, 2026
	NEW ISSUE: Bending Spoons $1.5bn equiv 5NC2 sr sec 2-part, EUR ($500m equiv) IPT low 9s; $1bn IPT low 10s, pxg Thurs	Oct 27, 2026
	MANDATE: Bending Spoons investor meetings Weds-Thurs; US$/EUR sr sec notes to follow	Oct 20, 2026

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Bending Spoons Operations SpA (BENSPO)

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