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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
COND
PRCD
AUTODI
Parts Europe SA€380
1EMEA
Jul 7, 2021
currency
EUR
size (m)
380.000
maturity
Jul 20, 2027
type
Floating
tenor
6.000
call
0.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
B3
s&p
B-
fitch
-
size description
-
re-open/tap
No
ipt
E+450-4.75%
ipt-pxd
-
guidance
E+400-425bp (0% floor) at par, Final; E+425-450bp (0% floor) at par, Original
spread
400
coupon
-
spread set
-
price
100.00000
yield
-
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: 2022-07-20; Registration: 144A/Reg S;
Deal Comments
07/07/2021 Parts Europe SA (PHE) (AUTODI) EUR380m (up from EUR350m) 144A/Reg S sr sec 1st lien FRN due 07/20/27 (6y). NC1 (MWC B+50bp), then at 101, 100. B3/B- (stable/positive). Via BNP (physical books, B&D)/Barc/GS jt glocos and books. No reg rights.Quarterly pay starts 10/20/21. List ISE. NY law. Settles 07/15 (France T+5; US T+6). Reg S ISIN: XS2362322930. IPT: E+450-475bp. Px talk: E+425-450bp (0% floor) at par. Px talk: E+425-450bp (0% floor) at par. Final px talk: E+400-425bp (0% floor) at par. Priced: 3mE+400bp (0% floor) at 100. Roadshow 07/05-07 (investor call at 2pm UKT 07/05). Books closed at 12:30pm UKT 07/07. Reconfirm were due by 1:15pm UKT 07/07. UOP: repay its EUR304m E+437.5bp FRN due 05/01/22 (callable at 100), repay PGE facility, GCP (EUR30m upsize for GCP). Equity sponsor: Bain. Biz: omni-channel distributor serving the automotive independent aftermarket with leading positions in key western continental European markets. HQ: Arcueil, France.

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