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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
CONS
PRCD
TEREOS
Tereos Finance Groupe I SA€300
1EMEA
Jun 11, 2024
currency
EUR
size (m)
300.000
maturity
Apr 30, 2030
type
Fixed
tenor
6.000
call
2.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Unsecured
moody's
NR
s&p
BB-
fitch
BB
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-
guidance
6% area (+/- 12.5bp)
spread
323.7
coupon
5.875%
spread set
-
price
100.00000
yield
5.875%
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: 2026-04-30; Registration: 144A/Reg S; Comments: B&D: NAT;
Deal Comments
Tereos Finance Groupe I SA (TEREOS) EUR300m 144A/Reg S sr notes due 04/30/30 (6y) NC2 (04/30/26) (MWC B+50bp), then at 102.938, 101.469, 100. Equity claw: 2y 40% at 105.875. NR/BB-/BB (--/positive/positive). Via BNP (logistics)/Natixis (B&D) physical books/Rabo jt glocos/Commerz/CIC/ING/GS jt books. No reg rights. List ISE. NY law. Settles 06/18 (T+5). Reg S ISIN: XS2838492101. Price talk: 6.00% area (+/- 12.5bp). Priced: 5.875% at 100. +323.7bp vs DBR 6.25% 01/04/30. Roadshow 1x1s Mon-Tues (investor call at 10:30am UKT Mon). Books closed at 1pm UKT today. UOP: along with EUR5m cash on hand, to partially redeem EUR3000m of its EUR425m 7.50% sr notes due 10/30/25 on or before the 10/15/24 call date (currently callable at 101.875, at 100 on 10/15/24). Biz: The cooperative agro-industrial group Tereos is a union of more than 12,000 Cooperative Associates and specializes in the processing of sugar beet, sugarcane, cereals, and potatoes. HQ: Mousy-le-Vieux, France.

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