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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
FNCL
PRCD
JERRGB
Jerrold Finco PLC£450
1EMEA
Mar 27, 2024
currency
GBP
size (m)
450.000
maturity
Apr 15, 2030
type
Fixed
tenor
6.000
call
2.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
NR
s&p
BB
fitch
BB
size description
-
re-open/tap
No
ipt
8.00-8.25%
ipt-pxd
-
guidance
8.00% area
spread
411
coupon
7.875%
spread set
-
price
100.00000
yield
7.875%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
-
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
-
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Redemption: 2026-04-15; Registration: 144A/Reg S; Comments: B&D: HSB;
Deal Comments
03/27/2024 Jerrold Finco Plc (Together Financial Services) (JERRGB) GBP450m 144A/Reg S sr sec notes due 04/15/30 (6y). NC2 (MWC G+50bp), then at 103.9375, 101.96875, 100. Equity claw: 2y 40% at 107.875. NR/BB/BB (--/stable/stable). Via Citi/HSBC (B&D) jt glocos/GS/Lloyds/NatWest jt books. No reg rights. List ISE. NY law. Settles 04/09 (T+7 UK, T+8 US). Reg S ISIN: XS2797220782. IPT: 8.00%-8.25%. Px talk: 8.00% area (+/- 0.125%). Priced: 7.875% at 100. +411bp vs UKT 0.375% 10/22/30. Roadshow (in-person) 03/25 (City)-03/26 (West End) (investor call at 12:30pm UKT 03/25). Books closed at 3:30pm UKT 03/27. UOP: alongside sale of GBP152m assets into certain securitization facilities, to redeem its GBP555m 4.875% sr sec notes due 01/15/26 (callable at 100), and GCP. Biz: specialist mortgage and secured loan provider in the UK. HQ: Cheadle, Cheshire, UK.

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