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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
TECH
PRCD
LUTECH
Lutech SpA (fka Libra GroupCo SpA)€275
1EMEA
May 14, 2021
currency
EUR
size (m)
275.000
maturity
May 15, 2027
type
Fixed
tenor
6.000
call
2.00
registration
144A/Reg S
benchmark
-
ranking
-
moody's
B2
s&p
B
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-
guidance
5.25% area; Final 5.125% area
spread
546
coupon
5.000%
spread set
-
price
100.00000
yield
5.000%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
BNP, DEU, IMI, NOM, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
BNP, DEU, IMI, NOM, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Redemption: 2023-05-15; Registration: 144A/Reg S;
Deal Comments
05/14/2021 Libra GroupCo SPA (Lutech) (LBRGRP) EUR275m 144A/Reg S sr sec notes due 05/15/27 (6y). NC2 (MWC B+50bp), then at 102.50, 101.25, 100. Equity claw: 3y 40% at 105.00. Special call: 10% per year the first 3 years at 103. B2/B (stable/stable). Via BNP (B&D)/DB jt glocos and jt physical books/IMI/NatWest/Nomura/Unicredit jt books. No reg rights. List Lux. NY law. Settles 05/24 (T+6). Reg S ISIN: XS2339830049. Px talk: 5.25% area. Final price talk: 5.125% area (+/-0.125%). Priced: 5.00% at 100. +546bp vs DBR 0.25% 02/15/27. Did investor call at 10:45am UKT 05/10, small group meeting 05/10-12. Books closed at 12pm UKT (originally closing at 11am UKT) 05/14. UOP: to finance the acquisition of Lutech by Apax for EUR305m and refinance and cancel Lutech's existing EUR181m debt, and GCP. Biz: leading Italian provider or IT services and products. HQ: Cologno Monzese, Milan, Italy.

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