01/30/2024 Cirsa Finance International Sarl (LHMCFI) EUR650m (up from EUR600m) 144A/Reg S sr sec fixed/FRN 2-part. B2/B+ (positive/stable). Via DB physical books (B&D)/Barc/BBVA/Jefferies/UBS jt glocos and books. No reg rights. List Lux. NY law. Settles 02/14 (T+10). EUR50m upsize to further repay PIK toggle notes
- EUR450m (from EUR350m minimum) sr sec fixed rate notes due 03/15/29 (5y). NC2 (02/13/26) (MWC B+50bp), then at 103.25, 101.625, 100. Equity claw: 2y 40% at 106.50. Special call: 10% per year the first 2 years at 103. Reg S ISIN: XS2760863329. Px talk: 6.50%-6.75% at par. Final terms: EUR450m 6.50% at par. Priced: 6.50% at 100.
- EUR200m add-on to its E+450bp sr sec FRN due 07/31/28 (4.5y). NC 6mo (07/19/24) (MWC B+50bp), then at 101, 100. Reg S permanent ISIN: XS2649696890. Immediately 144A fungible (Reg S after 40 days) with the original EUR325m issue priced 07/05/23. Px talk: 100.75-101.25. Final terms: EUR200m at 101.25. Priced: E+450bp add-on at 101.25.
Roadshow 01/29-30. Books closed at 3:45pm (from 1:45pm) UKT 01/30. UOP: redeem its EUR390m 4.75% sr sec Notes due 05/22/25 (callable at 100); EUR43m (10%) partial special call of its EUR425m 10.375% sr sec notes due 11/30/27 at 103; EUR200m (up from EUR150m) partial repayment of the EUR506.128m Holdco 7.25% sr sec PIK Toggle Notes due 10/02/25 (callable at 100). Equity sponsor: Blackstone. Biz: Global gaming company with presence in Spain and Italy and a number of countries in Latin America, and leading positions in the operation of casinos & gaming halls, slot route operations and online gaming and betting. HQ: Terrassa, Barcelona, Spain.