Summer Bidco BV (ACRBID)

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Summer Bidco BV (ACRBID)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	COMM	PRCD	ACRBIDADRBID	Summer Bidco BV, United Group BV	€856		2	EMEA	May 10, 2019

Tranche #1Summer Bidco BV, United Group BV

currency

EUR

size (m)

550.000

maturity

May 15, 2025

type

Floating

tenor

6.000

call

registration

144A/Reg S

benchmark

3mEu

ranking

Sr. Secured

moody's

s&p

fitch

size description

re-open/tap

ipt

3mEu+Low 400s

ipt-pxd

guidance

3mEu+425

spread

412.5

coupon

3mEu+412.5

spread set

price

100.00000

yield

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #2Summer Bidco BV, United Group BV

currency

EUR

size (m)

306.000

maturity

Nov 15, 2025

type

Fixed

tenor

6.500

call

registration

144A/Reg S

benchmark

ranking

Senior

moody's

s&p

B-

fitch

size description

re-open/tap

ipt

Low-Mid 8.00%

ipt-pxd

guidance

8.75-9.00%

spread

938

coupon

9.00%

spread set

price

100.00000

yield

9.00%

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche Comments

6 yr: First Pay: 2019-08-15; Registration: 144A/Reg S; Comments: EUR550m 6NC1 snr sec FRN. With EUR306m 6.5NC2 PIYC. GloCos JPM(B&D/phys)/CS/KKR/MS. JB CA-CIB. IPTs low 4s, talk E+425. Tax Call: No. PP: No. XD: No. LEI: 213800PC85O8BJ7DU398; 6.5 yr: First Pay: 2019-11-15; Registration: 144A/Reg S; Comments: EUR306m 6.5NC2 PIYC. With EUR550m 6NC1 snr sec FRN. GloCos JPM(B&D/phys)/CS/KKR/MS. JB CA-CIB. IPTs low/mid 8s (cash pay), talk 8.75%/9% (+0.75% PIK). B+938 vs DBR 1% 8/25. PIK interest at 9.75% . Tax Call: No. PP: No. XD: No. LEI: 724500EOJYP21L3XM206;

Deal Comments

Issuer(6yr): United Group BV

Use of Proceeds

6yr: Refinancing, repay RCF/local lines drawings; 6.5yr: M&A

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Summer Bidco BV (ACRBID)

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