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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
COND
PRCD
KEEPMT
Maison Finco PLC£275
1EMEA
Oct 6, 2021
currency
GBP
size (m)
275.000
maturity
Oct 31, 2027
type
Fixed
tenor
6.000
call
2.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
NR
s&p
B+
fitch
BB+
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-
guidance
5.75-6.00%
spread
529
coupon
6.000%
spread set
-
price
200.00000
yield
6.000%
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: 2023-10-31; Registration: 144A/Reg S;
Deal Comments
10/06/2021 Maison FinCo plc (Keepmoat) (KEEPMT) GBP275m 144A/Reg sr secured notes due 10/31/27 (6y). NC2 (MWC G+50bp), then at 103.00, 101.50, 100. Equity claw: 2y 40% at 106.00. Special call: 10% per year the 1st 2 years at 103. NR/B+/BB+ (--/stable/stable). Via CS (B&D)/Barc as jt glocos/GS jt books. No reg rights. List ISE. New York law. SMR at 100 if the acquisition has not been completed by 12/31/21. Settles 10/20 (T+10). Reg S ISIN: XS2393064889. Price talk: 5.75%-6.00%. Priced: 6.00% at 100. +529bp. Did investor call 12:00pm UKT 10/04. Small group meetings 0/04-10/06 Books closed at 1pm UKT 10/06. UOP: fund the acquisition of Keepmoat by Aermont Capital from TDR for GBP751m (GBP517m equity purchase and GBP234m repayment of debt). Aermon will contribute GBP476m. Equity sponsor: Aermont Capital. Biz: leading 5-Star Housebuilder, working in partership with landowners, local authorities and registered providers of affordable housing to deliver high-quality, affordably priced homes in England and Scotland. HQ: Doncaster, UK. (Acquisition announced 08/04/21).

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