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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
COND
PRCD
LHMCFI
Cirsa Finance International SARL€615
1EMEA
Sep 15, 2021
currency
EUR
size (m)
615.000
maturity
Mar 15, 2027
type
Fixed
tenor
5.500
call
2.00
registration
144A/Reg S
benchmark
DBR
ranking
Sr. Secured
moody's
B3
s&p
B-
fitch
-
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-
guidance
4.50-4.75%
spread
512
coupon
4.500%
spread set
-
price
100.00000
yield
4.500%
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: 2023-09-15; Registration: 144A/Reg S;
Deal Comments
09/15/2021 Cirsa Finance International Sarl (LHMCFI) EUR615m (up from EUR500m and EUR400m) 144A/Reg S sr sec notes due 03/15/27 (5.5y). NC2 (09/15/23) (MWC B+50bp), then at 102.25, 101.125, 100. Equity claw: 2y 40% at 104.50. Special call: 10% per year the first 2 years at 103. B3/B- (positive/stable). Via DB/Barc/BBVA/CS/Jefferies/UBS jt books. No reg rights. List Lux. NY law. Settles 09/27 (T+8). Reg S ISIN: XS2388186996. Px talk: 4.50%-4.75%. Launched: EUR615m at 4.50%. Priced: 4.50% at 100. +512bp vs DBR 0.25% 02/15/27. Did investor call at 10:30am UKT 09/14. Books closed at 3pm UKT 09/15. Reconfirms were due by 5pm UKT 09/15. UOP: redeem all (up from $385m) of its $495m 7.875% sr sec 1st lien notes due 12/20/23 (callable at 101.969), and to repay and cancel the full EUR55m drawn on its Second Revolving Credit Facility (EUR100m upsize to redeem all its 7.875% sr sec notes due 2023; the additional EUR115m upsize to partially repay its EUR663m 6.25% sr sec notes due 12/20/23 (callable at 101.563), and paydown revolver). Equity sponsor: Blackstone. Biz: One of the leading gaming companies in Spain and Italy, as well as in several countries in Latin America, engaged in the operation of slot machines, casinos and bingo halls. HQ: Terrassa, Spain.

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