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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
INDS
PRCD
IPGIM
Webuild SpA€500
1EMEA
Jun 12, 2024
currency
EUR
size (m)
500.000
maturity
Jun 20, 2029
type
Fixed
tenor
5.000
call
0.00
registration
Reg S Only
benchmark
-
ranking
Sr. Unsecured
moody's
NR
s&p
BB
fitch
BB
size description
-
re-open/tap
No
ipt
High 5%
ipt-pxd
-
guidance
5.50% area (+/-12.5bp)
spread
279.4
coupon
5.375%
spread set
-
price
100.00000
yield
5.375%
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
Registration: Reg S Only; Comments: B&D: GSC;
Deal Comments
06/12/2024 Webuild SpA (IPGIM) EUR500m (up from EUR400m) Reg S bearer sr notes due 06/20/29 (5y). NCL (MWC B+50bp) (6mo par call). NR/BB/BB (--/stable/positive). Via BNP/BofA/GS (B&D)/HSBC/IMI/JPM/Natixis/UniCredit jt physical books. List Dublin. English law. Annual pay (act/act). Settles 06/20 (T+6). ISIN: XS2830945452. IPT: high 5%. Px talk: 5.50% area (+/- 12.5bp). EUR100m upsize refinance debt and GCP. Final terms: EUR500m 5.375% at par. Priced: 5.375% at 100. +279.4bp vs OBL 2.10% 04/12/29. Did investor calls 06/10-12. Books closed at 12:30pm UKT 06/12. Reconfirms were due by 2pm UKT 06/12. HSBC (NetRoadshow presentation) and Natixis (investor calls) coordinated logistics. UOP: repayment of existing indebtedness including the Tender Offer and for GCP of the Group. The company has concurrently announced a Tender Offer for any and all of its EUR281.448m outstanding 1.750% notes due 10/26/24, ISIN: XS1707063589 (fixed purchase price 99.40) and up to the new deal size less EUR281.448m, of its EUR518.552m 5.875% notes due 12/15/25, ISIN: XS2271356201 (fixed purchase price 102.25) ($100m upsize to repay debt and GCP). Biz: a global player in the construction industry specializing in complex infrastructure for sustainable mobility, hydroelectric energy, water and green buildings sectors (HQ: Rozzano (Milan), Italy). Netroadshow login Details - URL: http://www.netroadshow.com; Entry Code: WEBUILD2024; Direct Link: https://www.netroadshow.com/nrs/home/#!/?show=f169c69f.

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