02/03/2022 FIS - Fabbrica Italiana Sintetici SpA
(FISITA) EUR350m 144A/Reg S sustainability-linked sr sec notes due 08/01/27 (5.5y). NC2 (02/01/24) (MWC B+50bp), then at 102.8125, 101.40625, 100 (subject to the S-L step-up premium). Equity claw: 2y 40% at 105.625. B3/B/B+ (positive/stable/stable). Via BNP (B&D)/CS (RS coordinator) jt glocos/Akros/IMI/UniCredit jt books (sustainability-linked bond structuring coordinators CS/BNP). No reg rights. List Lux. NY Law. SLB step-up premium: 20bp adjustment on the redemption price per KPI. Settles 02/10. Reg S ISIN: XS2436585355. Px talk: 5.75% area. Priced: 5.625% at 100. +570bp vs DBR 0.5% 08/15/27. Roadshow 01/31002/03 (investor call at 2pm UKT 01/31). Books closed at 2pm UKT 02/03. UOP: refinance debt, fund a EUR40m distribution to its parent company Nine Trees Group (the holding company of the Ferrari family). Biz: a leading global CDMO developing and manufacturing a broad range of APIs for the pharmaceutical industry. HQ: Montecchio Maggiore, Vicenza, Italy.