11/26/2024 Grunenthal GmbH
(GRUPHA) EUR500m 144A/Reg S sr sec notes due 11/15/31 (7y). NC3
(11/15/27) (MWC B+50bp), then at 102.313, 101.156, 100. Equity claw: 3y
40% at 104.625. B1/BB-/BB+ (stable/stable/stable). Via GS
(B&D)/DB/BofA jt physical books/ING/RBC/UniCredit jt
glocos/BBVA/BNP/Commerz/CA/Mizuho/ jt books. No reg rights. List ISE. NY
law. CoC at 101. Settles 12/06 (T+7 US biz days). Reg S ISIIN:
XS2951378434. IPT: 5% area (+/- 12.5bp). Price talk: 4.75% area (+/-
12.5bp).
Priced: 4.625% at 100. +260bp vs DBR 0.00% 09//15/31.
Roadshow 11/25-26 (investor call 10:30am 11/25). Books closed at 4pm
UKT 11/26. UOP: along with EUR7m cash on hand, to fund tender offer for
its EUR400m 3.625% sr sec notes due 11/15/26, pay down the EUR100m drawn
on its revolver. Wholly-owned by the Wirtz family. Biz: Leading
pharmaceutical company in pain treatments. HQ: Aachen, Germany.
GIC registration link: https://evercall.co/oacc/45306
Deal Roadshow link: https://dealroadshow.com/e/GRUNENTHAL2024 (or Entry code: GRUNENTHAL2024)