09/13/2023 Banijay Entertainment SAS (BANIJA) EUR910m (EUR/USD) equivalent 144A.Reg S sr sec notes two-part due 2029 (5.5y). NC2. B1/B+/BB- (stable/stable/stable). List ISE. NY law. No reg rights. Settles 09/19 (T+4).
- EUR540m (from EUR350m minimum) due 05/01/29. NC2 (MWC B/T+50bp), then at 103.50, 101.75, 100. Equity claw: 2y 40% at 107.00. Special call: 10% per year the first 2 years at 103. Via CA (physical)/Natixis (B&D, physical)/SocGen (physical)/BNP/DB jt glocos and jt books. Reg S ISIN: XS2690055996. IPT mid-high 7s. Px talk 7.25% area. Revised px talk: 7.00% area. Final terms: EUR540m 7.00% yield. Priced: 7.00% at 100. +437bp vs DBR 0.25% 02/15/29.
- USD400m (from USD400m minimum and USD350m minimum) due 05/15/29. NC2 (MWC B/T+50bp), then at 104.0625, 102.0313, 100. Equity claw: 2y 40% at 108.125. Special call: 10% per year the first 2 years at 103. Via DB (B&D, physical)/BNP (physical)/CA/Natixis/SocGen jt glocos/GS jt books. No reg rights. 144A ISIN: US060335AB23. IPT low-mid 8s. Px talk 8.25% area (unchanged). Final terms: USD400m 8.125% yield. Priced: 8.125% at 100. +371bp vs UST 2.375% 05/01/29.
Did investor calls 09/07-11 (global investor call at 3:30pm UKT / 10:30am NYT 09/07). Books closed: US$ at 3pm NYT 09/12 (10am UKT 099/13 for European investors), EUR at 10am UKT 09/13. UOP: redeem its EUR575m 3.50% sr sec notes due 03/01/25 (callable at 100.875) and USD348m 5.375% sr sec notes due 03/01/25 (callable at 101.344). Biz: independent content production company. It creates, develops, produces, sells, and distributes audio-visual content to broadcasters and streamers, through a global portfolio of production companies across 21 countries. HQ: Paris, France.