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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
MTRL
PRCD
SIGCBL
SIG Combibloc PurchaseCo SARL€1,000
2EMEA
Jun 11, 2020
currency
EUR
size (m)
450.000
maturity
Jun 18, 2023
type
Fixed
tenor
3.000
call
0.00
registration
144A/Reg S
benchmark
B
ranking
Senior
moody's
Ba2
s&p
BBB-
fitch
-
size description
-
re-open/tap
No
ipt
2% area
ipt-pxd
-
guidance
1.875%-2%
spread
255
coupon
1.875%
spread set
-
price
100.00000
yield
1.875%
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
-
currency
EUR
size (m)
550.000
maturity
Jun 18, 2025
type
Fixed
tenor
5.000
call
0.00
registration
144A/Reg S
benchmark
B
ranking
Senior
moody's
Ba2
s&p
BBB-
fitch
-
size description
-
re-open/tap
No
ipt
2.25% area
ipt-pxd
-
guidance
2.125%-2.25%
spread
276
coupon
2.125%
spread set
-
price
100.00000
yield
2.125%
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
Registration: 144A/Reg S; Comments: EUR450m 3yr RegS/144A bmk snr notes. Ba2/BBB-. GloCos GS(B&D)/UBS/Uni. JB CS. IPTS 2% area. guidance 1.875%/2% WPIR, exp 400m, launch 450m @1.875%, combined bks >2.9bn (skew to 5yr), peak >3bn. With 5yr, total 1bn. OBL 0% 4/23+255. MSCI AA / Sustainalytics 18.8 - Low Risk / EcoVadis Platinum; Registration: 144A/Reg S; Comments: EUR550m 5yr RegS/144A bmk snr notes. Ba2/BBB-. GloCos GS(B&D)/UBS/Uni. JB CS. IPTs 2.25% area, guidance 2.125%/2.25% WPIR, exp 600m, launch 550m @2.125%, combined bks 2.9bn (skew to 5yr), peak >3bn. With 3yr, total 1bn. OBL0% 4/25+276. MSCI AA / Sustainalytics 18.8 - Low Risk / EcoVadis Platinum.;
Deal Comments
06/11/2020 SIG Combibloc PurchaseCo Sarl (SIG-SE/SIGCBL) EUR1bn 144A/Reg S sr notes 2-part. Ba2/BBB- (stable/stable) (AA by MSCI, 18.8 - Low Risk by Sustainalytics and Platinum by EcoVadis (all ESG Ratings). Via GS/UBS/UniCredit as jgc/CS joint books. No reg rights. List Euronext Dublin. NY law. Settles 06/18. - EUR450m due 06/18/23 (3y). NCL (MWC B+50, 3mo par call). Reg S ISIN: XS2189592889. IPT 2% area. Px talk: 1.875%-2% (will price in range). Final terms: EUR450m at 1.875%. Priced: 1.875% at 100. +255bp vs OBL 0.00% 04/14/23. - EUR550m due 06/18/25 (5y). NCL (MWC B+50bp, 3mo par call). Reg S ISIN: XS219594315. IPT 2.25% area. Px talk: 2.125%-2.25% (will price in range). Final terms: EUR550m at 2.125%. Priced: 2.125% at 100. +276bp vs OBL 0.00% 04/11/25. Orderbooks EUR2.9bn good at tight-end of guidance, skew to the 5y (pre-rec) (Books were in excess of EUR3bn (skew to 5y)). A virtual roadshow began Mon 06/08. Books closed at 2:15pm UKT 06/11. UOP: refinance capital structure (along with $550m term loan and $14m cash on hand, to repay its existing EUR1.553 term loan (EUR1.203 term loan A and $350m term loan B). Biz: SIG Combibloc Group AG is a leading systems and solutions provider for aseptic carton packaging, HQ: Neuhausen Am Rheinfall, Switzerland.

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