01/29/2020 Emerging Markets: RCS & RDS SA (Digi Communications) EUR850m (up from EUR800m) 144A/Reg S sr sec notes 2-part. B1/BB- (stable/stable). Via Citi gloco (B&D)/ING/UniCredit joint books. No reg rights. NY Law. List Euronext Dublin. Settle Feb 05 (T+5).
- EUR450m (from EUR300m minimum) due 05-Feb-2025 (5y). NC2 (MWC B+50), then at 101.25, 100.625, 100. Equity claw: 2y 40% then at 102.50. Reg S ISIN XS2107451069. IPT: high 2s-3%. Px talk: 2.75% area. Launched: EUR450m at 2.50%. Priced: 2.50% at 100. +311bp vs 0.50% DBR Feb 2022. MS+276bp.
- EUR400m (from EUR300m minimum) due 05-Feb-2028 (8y). NC3 (MWC B+50bp), then at 101.625, 100.813, 100. Equity claw: 3y 40% then a 103.25. Reg S ISIN XS2107452620. IPT: mid-high 3s. Px talk: 3.50% area. Launched: EUR400m at 3.25%. Priced: 3.25% at 100. +374bp vs 0.50% DBR Feb 2025. MS+336bp.
$50m upsize UOP: EUR35m for debt refi and EUR15m for cash on the B/S. Roadshow Jan 27-28 (Mon London 1-1s and lunch, Tues Paris breakfast and Frankfurt afternoon). Books closed at 12:30pm UKT Jan 29. Orders were to be reconfirmed by 1:45pm UKT Jan 29. UOP: redeem its EUR550m sr notes due 2023, repay bank debt (EUR89m due 2016 and EUR73m due 2018, and EUR22m of redemption premium and accrued unpaid interest), Biz: leading provider of telecom services in Romania and Hungary, and significant MVNO operations and developing own fixed network in Spain. HQ: Bucharest, Romania.