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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
INDS
PRCD
VERISR
Verisure Holding AB€800
1EMEA
Jul 9, 2020
currency
EUR
size (m)
800.000
maturity
Jul 15, 2026
type
Fixed
tenor
6.000
call
2.00
registration
144A/Reg S
benchmark
-
ranking
-
moody's
B1
s&p
B
fitch
-
size description
-
re-open/tap
No
ipt
4.00%-4.25%
ipt-pxd
-
guidance
4.00% area
spread
453
coupon
3.875%
spread set
-
price
100.00000
yield
3.875%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
BAM, CTI, DEU, GSC, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
BAM, CTI, DEU, GSC, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Registration: 144A/Reg S;
Deal Comments
07/09/2020 Verisure Holding AB (VERISR) EUR800m (up from EUR500m-700m) 144A/Reg S sr sec 1st lien notes due 0715/26 (6y). NC2 (MWC B+50bp), then at 101.9375, 100.9688, 100. Equity claw: 2y 40% at 103.875. Special call: 10% per year the 1st 2 years at 103. B1/B (stable/stable). Via GS/BofA/MS jgcs/Citi/DB/JPM/Nomura joint books. No reg rights. List Lux. NY law. 100x1. Settles 07/20 (T+7). Reg S ISIN: XS2204842384. IPT 4.00%-4.25%. Px talk: 4.00% area. Total transaction size upped to EUR1.6bn (originally was EUR1bn total split between notes EUR500-700m and term loan EUR300-500m). EUR600m total transaction upsize UOP: to further partially repay term loan B1E. Final terms: EUR800m at 3.875% (term loan size EUR800m for a EUR1.6n total transaction size, up from EUR1bn total). Priced: 3.875% at 100. +453bp vs DBR 0.00% 08/15/26. Did investor call at 11am UKT 07/08. Reconfirms were due by 2:15pm UKT 07/09. UOP: along with EUR10m cash on hand and EUR1.6bn (up from EUR1bn), including the new EUR800m notes and a new pari passu EUR800m (up from EUR300m-500m) 6y term loan B, will be used to repay in full its EUR712m term loan B1F and certain amounts (EUR888m, up from EUR288m) of its EUR2.38bn term loan B1E. Biz: Leading European provider of professionally monitored alarm systems, primarily for residential and small business customers. Equity sponsors: Hellman & Friedman, Eiffel (GIC), Alba. HQ: Geneva, Switzerland.

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