06/29/2023 SCIL IV LLC/SCIL USA Holdings LLC (Polynt)
(PLYIM) EUR300m 144A/Reg S sr sec notes due 07/15/28 (5y). NC2 (MWC B+50bp), then at 104.75, 102.375, 100. Equity claw: 2y 40% at 109.50. Special call: 10% per year the 1st 2ys at 103. B1/BB- (stable/stable). Via JPM (B&D)/GS jt glocos and physical books. No reg rights. List ISE. NY law. Settles 07/10. Reg S ISIN: XS2644942737. IPT: low-to-mid 9s. Px talk: 9.50% area. Final terms: EUR300m at 9.50%. Priced: 9.50% at 100. +700bp vs OBL 2.40% 10/19/28. Roadshow 06/26-06/28 (investor call at 11am UKT 06/26). Books closed at 1pm UKT 06/29. UOP: along with EUR183.7m cash cash on hand, to fund a EUR473.7m dividend. Equity sponsor: Black Diamond Capital Management. Biz: Leading composites and coatings technology producer. HQ: Scanzorosciate, Italy.