LHMC Finco 2 Sarl (Cirsa)(LHMCFI) EUR600m (up from EUR550m and EUR320m) 144A/Reg S sr sec PIK toggle notes due 05/15/30 (5y). NC1 (05/12/26) (MWC B+50bp), then at 102, 101, 100. --/B- (--/stable) (Corp ratings B2/B+). Via DB (B&D) physical books/Barc/BBVA/Jefferies/MS/SocGen/UBS jt glocos and books. No reg rights. List Lux. NY law. PIK interest at company option if certain conditions are met on May 15 and Nov 15, starting 11/15/25. CoC at 101. Settles 05/12 (T+5). Reg S ISIN: XS3049411971. IPT: 8.75% area (+/-0.125%). EUR230m upsize to repay EUR35m revolver draw and repay EUR190m of the EUR520m FRN due 07/31/28 (callable at 101). Price talk: 8.625% cash/9.375% PIK. EUR50m upsize at pricing to repay a further EUR50m of its FRN due 07/31/28.
Priced: 8.625% cash/9.375% PIK at 100. +660bp vs OBL 2.40% 04/18/30.
Roadshow (virtual small group meetings) 05/01 (investor call at 10:30am UKT 05/01). Books close at 11:30am UKT 05/02. Pricing 05/02 UK afternoon. UOP: redeem its EUR306m 7.25%/8.25% sr sec PIK toggle notes due 10/02/25 (callable at 100) (EUR280m upsize to repay EUR35m revolver draw and repay EUR250m (up from EUR190m) of the EUR520m FRN due 07/31/28 (callable at 101)). Equity sponsor: Blackstone. Biz: a direct holding company of Cirsa, a global gaming company with presence in Spain and Italy and a number of countries in Latin America, and leading positions in the operation of casinos & gaming halls, slot route operations and online gaming and betting. HQ: Terrassa, Barcelona, Spain.
Netroadshow link: Link: Link: https://www.netroadshow.com/nrs/home/#!/?show=bcc93f66 (entry code Cirsa5712).