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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
MTRL
PRCD
FEDRIG
Fiber Bidco SpA (Fedrigoni)€665
1EMEA
Jan 11, 2024
currency
EUR
size (m)
665.000
maturity
Jan 15, 2030
type
Floating
tenor
6.000
call
1.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
B2
s&p
B
fitch
BB-
size description
-
re-open/tap
No
ipt
E+425-450bp, 0% floor, 99.50 OID
ipt-pxd
-
guidance
E+400-425bp, 0% floor, at 100
spread
400
coupon
-
spread set
-
price
100.00000
yield
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
BNP, BPE, IMI, MIZ, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
BNP, BPE, IMI, MIZ, ...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Registration: 144A/Reg S;
Deal Comments
01/11/2024 Fiber Bidco SpA (Fedrigoni) (FEDRIG) EUR665m 144A/Reg S sr sec FRN due 01/15/30 (6y). NC1 (01/22/25) (MWC), then at 101, 100. B2/B/BB- (stable/negative/stable). Via GS (physical books)/Nomura/UniCredit jt glocos/BNP/BPER/IMI/Mizuho/BMPS/MS/Santander jt books. No reg rights. List Lux. NY law. Pays Quarterly March 31, June 30, Sept 30 Dec 31, starting 03/31/24. Settles 01/22 (T+7). Reg S ISIN: XS2748964850. IPT: E+425-450bp, 0% floor, 99.50 OID. Px talk: E+400-425bp, 0% floor, at 100. Priced: 3mE+400bp, 0% floor, at 100. Roadshow began 01/09 (investor call at 11am UKT 01/09). Books closed at 2pm UKT 01/11. (Originally pricing Fri). UOP: along with EUR81m of a recent EUR272m sale leaseback transaction and EUR4m cash on hand, to redeem its existing EUR735m sr sec FRN due 10/25/27 (callable at 101). Equity sponsors: Bain (46.3%) and BC Partners (46.3%). Biz: supplier of premium sustainable customized packaging. HQ: Verona, Italy.

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