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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
CONS
PRCD
TEREOS
Tereos Finance Groupe I SA€125
1EMEA
Apr 13, 2021
currency
EUR
size (m)
125.000
maturity
Oct 30, 2025
type
Fixed
tenor
4.500
call
1.50
registration
144A/Reg S
benchmark
-
ranking
-
moody's
NR
s&p
B+
fitch
B+
size description
-
re-open/tap
Yes
ipt
-
ipt-pxd
-
guidance
106.75-107.25
spread
646
coupon
7.500%
spread set
-
price
106.75000
yield
5.788%
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
Redemption: 2022-10-30; Registration: 144A/Reg S;
Deal Comments
04/13/2021 Tereos Finance Groupe I SA (TEREOS) EUR125m (up from EUR100m) 144A/Reg S add-on to its 7.50% sr notes due 10/30/25 (4.5y). NC1.5 (10/30/22) (MWC B+50bp), then at 103.75, 101.875, 100. Equity claw: 2.5y 40% at 107.50. NR/B+/B+ (--/stable/stable). Via BNPP (Ieft books)/Natixis/Rabo jt books. No reg rights. List ISE. NY Law. Settles 04/20 (T+5). Immediately 144A fungible (Reg S after 40 days) with the original EUR300m issue priced 10/16/20. Existing Reg S ISIN: XS2244837162 (temporary Reg S ISIN: XS2329140508). Px guidance: 106.75-107.25. Final terms: EUR125m at 106.75. Priced: 7.50% at 106.75, 5.7875% YTM. +646bp vs DBR 1% 08/5/25. Virtual 1-on-1s 04/12-13 (investor call at 10am UKT 04/12). Books closed at 12:30pm UKT 04/13. Reconfirms were due by 1:30pm UKT 04/13. UOP: repay part of ($50m) its EUR175m term loan due 2022, and GCP (EUR50m). Biz: The cooperative agro-industrial group Tereos is a union of more than 12,000 Cooperative Associates and specializes in the processing of sugar beet, sugarcane, cereals, and potatoes. HQ: Sainte Benoite, France.

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