Redemption: 2027-03-15; Registration: Reg S Only; Comments: B&D: BNP;

Elior Group SA (ELIOR) EUR500m Reg S sr notes due 03/15/2030 (5y). NC2 (03/15/27) (MWC B+50bp), then at 102.8125, 101.40625, 100. Equity claw: 2y 40% at 105.625. NR/B+/B+ (--/stable/positive). Via BNP (B&D)/CA jt physical books/JPM/Natixis jt glocos/BBVA/CIC/GS/Rabo/SocGen jt books. List Lux. NY law. CoC at 101. Settles 02/04 (T+9). ISIN: XS2980875376. IPT: 6.25%-6.50%. Price talk: 6.00%-6.25%. Revised price talk: 5.875% area (+/-12.5bp). Final price talk: 5.625%-5.750% WPIR. Priced: 5.625% at 100. +340bp vs DBR 0.00% 02/15/30. Roadshow (1-on-1s) 01/20-22 (investor call at 11:30am UKT 01/20). Books closed at 11am UKT (revised from 10:30am UKT) 01/22. Reconfirms were due by 12.15pm UKT 01/22. UOP: along with a EUR152m draw on a new EUR430m revolver and EUR91m cash on hand, to fund the tender offer for its EUR550m 3.75% sr notes due 07/15/26 (100 purchase price, BNP/CA dealer managers) and repay the EUR180m drawn on its existing revolver. Parent: Derichebourg SA (48.2%). Biz: leading intl player in contract catering and services. HQ: Paris, France.