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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
HLTH
PRCD
BIOGRP
CAB Selas€350
1EMEA
Nov 3, 2021
currency
EUR
size (m)
350.000
maturity
Feb 1, 2028
type
Fixed
tenor
6.250
call
2.25
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
B2
s&p
B
fitch
B+
size description
-
re-open/tap
Yes
ipt
98.00-98.50
ipt-pxd
-
guidance
98.5001
spread
406
coupon
3.375%
spread set
-
price
98.50010
yield
3.645%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
CAG, CTI, GSC, HSB, ...
passive leads
-
co-managers
-
coordinating managers
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
CAG, CTI, GSC, HSB, ...
passive leads
-
co-managers
-
coordinating managers
Tranche Comments
Redemption: 2024-02-01; Registration: 144A/Reg S;
Deal Comments
11/03/2021 CAB Selas (Biogroup) (BIOGRP) EUR350m 144A/Reg S add-on to its 3.375% sr sec notes due 02/01/28 (6.25y). NC2.25 (02/01/24) (MWC B+50bp), then at 101.688, 100.844, 100. Equity claw: 2.25y 40% at 103.375. Special call: 10% per year the 1st 2.25 years at 103. B2/B/B+ (stable/stable/stable). Via BNP/Natixis (B&D) jt glocos and jt physical books/JPM jt glocos/Citi/CA/GS/HSBC/MS jt books. No reg rights. List ISE. NY Law. Settles 11/15 (T+8). Reg S ISIN: XS2294186965. Immediately fungible with the EUR800m issue priced 01/28/2021. IPT: 98.00-98.50. Px talk: 98.5001. Priced: 3.375% add-on at 98.5001, yield 3.6453%. +406bp vs DBR 0.50% 02/15/28. Did investor call at 10:30am UKT 11/02. 1x1s virtual meetings 11/02-03. Books closed at 3pm UKT 11/03. UOP: finance the acquisition of 100% of Medilys Shares for EUR69m originally financed by cash, and fund the acquisition of 89% of LLR Belgique Shares (EUR28m), repay EUR195m drawn under the Existing Revolver, refinance EUR5m certain other net debt incurred in the context of the Medilys Acquisition and the LLR Belgique Acquisition, fund EUR43m cash on balance sheet for GCP. Biz: Leading private medical laboratory testing business in France and Belgium.

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