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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
INDS
PRCD
VERISR
Verisure Holding AB€525
1EMEA
Apr 30, 2024
currency
EUR
size (m)
525.000
maturity
May 15, 2030
type
Fixed
tenor
6.000
call
2.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
B1
s&p
B+
fitch
-
size description
-
re-open/tap
No
ipt
high 5s
ipt-pxd
-
guidance
5.50%-5.75%
spread
297
coupon
5.500%
spread set
-
price
100.00000
yield
5.500%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Redemption: 2026-05-15; Registration: 144A/Reg S;
Deal Comments
04/30/2024 Verisure Holding AB (publ) (VERISR) EUR525m (up from EUR300m minimum) 144A/Reg S sr sec notes due 05/15/30 (6y). NC2 (MWC B+50bp), then at 102.75, 101.375, 100. Equity claw: 3y 40% at 105.50. IPO call: at any time for whole or in part at 102. Special call: 10% per year the first 3 years at 103. B1/B+ (positive/stable). Via JPM (B&D) sole physical books/BofA/GS jt glocos/BNP/Citi/DB/MS/Nomura/Nordea jt books. No reg rights. List Lux. Settles 05/16. Regs S ISIN: XS2816753979. IPT: high 5s. Price talk: 5.50%-5.75%. Final terms: EUR525m at 5.50%. Priced: 5.50% at 100. +297bp vs DBR 0% 02/15/30. Roadshow 1-on-1s 04/29 (investor call at 11am UKT 04/29). Books closed at 12pm UKT 04/30. Reconfirms were due by 1:30pm UKT 04/30. UOP: along with EUR525m TLB A&E, to tepay the EUR200m drawn on its revolver, partially repay and amend & extend its EUR800m TLB due July 2026. Equity sponsors: Hellman & Friedman (59.6%), Eiffel (GIC) (21.8%), Alba (7.60%). Biz: Leading European provider of professionally monitored alarm systems, primarily for residential and small business customers. HQ: Geneva, Switzerland.

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