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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
MTRL
PRCD
CANPCKCANPCK
Canpack SA, Eastern PA Land Investment Holding LLC$800
1EMEA
Oct 4, 2021
currency
USD
size (m)
800.000
maturity
Nov 15, 2029
type
Fixed
tenor
8.000
call
3.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Unsecured
moody's
NR
s&p
BB
fitch
BB
size description
-
re-open/tap
No
ipt
high 3s-4
ipt-pxd
-
guidance
3.75% area
spread
253
coupon
3.875%
spread set
-
price
100.00000
yield
3.875%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
BNP, CAI, CTI, HSB, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
BNP, CAI, CTI, HSB, ...
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Redemption: 2024-11-15; Registration: 144A/Reg S;
Deal Comments
10/04/2021 CANPACK SA/CANPACK US LLC (CANPCK) $800m 144A/Reg S sr notes due 11/15/29 (8y). NC3 (11/15/24) (MWC T+50bp), then at 101.9375, 100.9688, 100. Equity claw: 3y 40% at 103.875. NR/BB/BB (--/stable/stable). Via WFS gloco/BNP/Citi/HSBC/ING jt books, Caixa, PKO Bank Polski as co-managers. No reg rights. List Lux. NY law. Settles 10/12 (T+5). 144A CUSIP: 13806CAA0. IPT: high 3s-4. Px talk: 3.75% area. Priced: 3.875% at 100. +253bp vs 1.75% 11/15/29. Did investor call at 11am 10/04. Books closed at 2:30pm 10/04. UOP: GCP, including approx. $400m to fund the new plant in Muncie, IN, approx. $100m to fund the expansion of the Olyphant, PA plant, approx. $70m in a payment to Giorgi Global Holdings Inc (GGH) to fund transition tax payments and approx. $220m for potential expansionary CapEx projects and (ii) approx. $10m in fees, costs and expenses related to the transaction. Biz: a global manufacturer of high-quality aluminum cans, glass containers and metal closures for the beverage industry and steel cans for the food and chemical industries, serving customers in approximately 100 countries worldwide. It is privately-owned by Peter Giorgi via the holding company Giorgi Global Holdings Inc. HQ: Cracow, Poland.

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