06/22/21 VMED O2 UK Financing I plc (VMED) approx GBP1.290bn (up from GBP1.130bn) equivalent (GBP/USD) 144A/Reg S sr sec Green notes 2-part. Ba3/BB-/BB+ (stable/stable/stable). Via Barc (GBP B&D)/JPM (USD B&D)+. DB green bond structurer. No reg rights. List ISE. NY law. Settles 07/07 (T+10).
- GBP675m (from benchmark) due 07/15/31 (10y). NC5 (MWC G+50bp), then at 102.25, 101.125, 100.563, 100. Equity claw: 5y 40% at 104.50. Special call: 10% per year the first 5 years at 103.Via Barc (B&D)/CS/JPM jt physical books/Sabadell/BankInter/BBVA/BNP/BofA/Caixa/CA/Citi/DB/GS/HSBC/ING/Lloyds/Mediobanca/Mizuho/MS/MUFG/Natixis/NatWest/RBC/Santander/Scotia/SMBC Nikko/SocGen jt books. Reg S ISIN: XS2358483332. IPT: mid 4s. Px talk: 4.375%-4.50%. Launched: GBP675m at 4.50%. Priced: 4.50% at 100. +360bp vs UKT 0.25% 07/31/31.
- US$850m (from US$750m minimum) due 07/15/31 (10y). NC5 (MWC T+50bp), then at 102.375, 101.188, 100.594, 100. Equity claw: 5y 40% at 104.75. Special call: 10% per year the first 5 years at 103. Via JPM (B&D) physical books/Barc/BNP/Citi/CA/CS/DB/GS/ING/Mediobanca/Mizuho/MS/MUFG/Natixis/RBC/Santander/Scotia/SMBC Nikko/SocGen jt books. 144A CUSIP: 92858RAB6. IPT: high 4s. Px talk: 4.625%-4.75%. Launched: US$850m at 4.75%. Priced: 4.75% at 100. +325bp vs 1.625% 05/15/31.
Did investor call at 4:30pm UKT/11:30an NYT yesterday. GBP books closed at 1:30pm UKT today; USD books closed at 5pm yesterday for US accounts, 10am UKT today for European accounts. Reconfirms were due by 10:45am NYT/3:45bp UKT today. UOP: Refinance GBP1.124bn term loan A in accordance with its Green Bond Framework, and finance/refinance new and/or existing eligile Green Projects (approx. GBP160m (US$220m) upsize to partially redeem its $750m 5.50% sr sec 1st lien notes due 08/15/26 (callable 08/15/21 at 102.75).. Biz: provides mobile, broadband and pay-TV services in the UK (Liberty Global plc and Telefonica SA owned 50:50 joint venture of Virgin Media and O2 Holdings UK businesses).