Viridien SA (fka CGG SA) (VIRIFP) US$968m (up from US$950m) equivalent (US$/EUR) 144A/Reg S sr sec notes 2-part. B2/ B/BB- (stable/positive/stable). Via JPM (US$ B&D)/MS (EUR B&D) jt glocos and physical books/Danske (Nordic books)/DNB (Nordic books) jt books, Arctic, Clarksons as co-managers. No reg rights. List Lux. NY law. Settles 03/25 (T+10).
- US$450m (down from US$475) due 10/15/30 (5.5y). NC2 (04/15/27) (MWC T+50bp), then at 105.00, 102.50, 100. Equity claw: 2y 40% at 110.00. Special call: 10% per year the first 2 years at 103. CoC at 101. 144A CUSIP: 12531QAA3. IPT: 10.25%-10.50%. Price talk: 10.25% area. Launched: US$475m at 10%. Final size: US$475m at 10%. Priced: 10% at 100. +605bp vs 4% 02/28/30.
- EUR475m (up from US$475m equivalent) due 10/15/30 (5.5y). NC2 (04/15/27) (MWC B+50bp), then at 104.25, 102.125, 100. Equity claw: 2y 40% at 108.50. Special call: 10% per year the first 2 years at 103. CoC at 101. Reg S ISIN: XS3023943692. IPT: 8.75%-9.00%. Price talk: 8.75% area. Launched: EUR (US$475m equiv) at 8.50%. Final size: EUR475m at 8.50%. Priced: 8.50% at 100. +594bp vs DBR 2.40% 11/15/30.
Roadshow (small group calls) 03/10-11 (investor call at 12pm NYT / 4pm UKT 03/10). Books closed at 11:30am NYT / 3:30pm UKT 03/11 (from 11am NYT and 3pm UKT). Pricing 03/11 afternoon. UOP: along with US$160.4m cash on hand, to redeem its US$447.4m 8.75% sr notes due 04/01/27 on 04/01/25 at 102.188 and EUR578.6m 7.75% sr sec notes due 04/01/27 on 04/01/25 at 101.938. Biz: Leading global geoscience technology provider of imaging solutions, earth data, and seismic equipment. HQ: Massy, France.
Netroadshow: https://www.netroadshow.com/events/login?show=004bc6eb&confId=79106 (entry codeCygnus9375) (available now).