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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
MTRL
PRCD
FBRICC
Fabric (BC) SpA€225
1EMEA
Feb 5, 2020
currency
EUR
size (m)
225.000
maturity
Aug 31, 2026
type
Floating
tenor
6.500
call
0.00
registration
144A/Reg S
benchmark
-
ranking
-
moody's
B2
s&p
B
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-
guidance
E+450-475bp (par issue price).
spread
412.5
coupon
412.500%
spread set
-
price
100.00000
yield
412.500%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
-
joint leads
HSB, KKR, NOM, UBI, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
-
joint leads
HSB, KKR, NOM, UBI, ...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Registration: 144A/Reg S; Comments: 02/05/2020 Fabric (BC) SpA (Fedrigoni) EUR225m 144A/Reg S sr sec FRN due 31-Aug-2026 (6.5y). NC1 (28-Feb-2021) (MWC B+50bp), then at 101, 100. B2/B (stable/stable). Via BNPP (left lead)/HSBC/KKR/Nomura/UBI Banca/UniCredit joint books. List Euronext Dublin. NY law. Settles Feb 28. Reg S ISIN: XS2115092285. Interest pay dates: Feb 28, May 31, Aug 31, Nov 30, starting May 31, 2020. Price talk E+450-475bp (par issue price). Revised price talk: E+437.5bp area (+-/- 12.5bp) (par issue price). Final terms: E+412.5bp (par issue price). Priced: 3mE+412.5bp (0% floor) at 100. Roadshow Feb 03-05. Books closed at 1:30pm UKT Feb 05. Orders were to be reconfirmed by 2:45pm UKT Feb 05. UOP: refi bridge loan incurred to fund the EUR275m cash acquisition of Ritrama, and repay Ritrama debt. Equity sponsor: Bain. Biz: manufacturer and distributor of specialty paper, pressure sensitive products and security products. HQ: Verona, Italy. (Acquisition announced 10/30/19).;

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