Techem Verwaltunsgesellschaft 675 mbH (Techem) (TCHEN) EUR1.15bn (up from EUR1bn) 144A/Reg S sr sec notes 2-part. B2/B+/B+ (stable/stable/stable). Via GS (B&D) sole gloco and physical books/BNP/Commerz/CA/DB/JPM/Natixis/SMBC/UniCredit jt books. No reg rights. List ISE. NY law. Settles 07/04 (T+6).
- EUR540m (from EUR300m minimum) sr sec FRN due 07/15/32 (7y). NC1 (07/15/26) (MWC B+50bp), then at 100. CoC at 101. Pays Jane 30, April 30, July 30 and Oct 30, stating10/30/2025. Denoms: 100x1. Reg S ISIN: XS3106449435. Rule 1144A ISIN: XS3106449435. IPT: E+mid-to-high 300s at par. Price talk: E+325-350bp at par. Revised price talk: E+300-312.5bp at par WPIR. Priced: 3mE+300bp (zero floor) at 100.
- EUR610m (from EUR300m minimum) sr sec fixed rate notes due 07/15/32 (7y). NC3 (07/15/28) (MWC B+50bp), then at 102.3125, 101.15625, 100. IPO call: 3y for up to 100% at 102. Equity claw: 3y 40% at 104.625. Special call: 10% per year the first 3 years at 103. CoC at 101. Pays April 30 and Oct 30, starting 10/30/25. Denoms: 100x1. 144A ISIN: XS3101388190; Reg S ISIN XS3101387895. Re IPT: low-to-mid 5s. Price talk: 5% area. Revised price talk: 4.625%-4.75% WPIR. Priced: 4.625% at 100. +233bp vs DBR 0% 02/15/32.
EUR150m upsize to fund additional shareholder distribution. Did investor call at 11am UKT 06/24. Books closed at 11am UKT 06/26. Reconfims were due by 2:30pm UKT 06/26. UOP: along with EUR92m cash on hand, to redeem its EUR363.9m 6.00% sr sec notes du 07/30/26 (callable at 100), fund EUR874m (up from EUR724m) distribution to shareholders. Equity sponsors: Partners Group (60%), CDPQ (25%), OTPP (16%). Biz: a leading global energy management and services provider (energy and water metering) to the real estate sector and private homeowners. HQ: Eschborn, Germany.
Netroadshow direct link: https://urldefense.com/v3/__https:/www.netroadshow.com/nrs/home/*!/?show=15af91be__;Iw!!O2kDR7mm-zSJ!rMfhimXroFfeCZgQ8vdSM7106FnH9_YdBiFs7LLuElssHf9LHlX2j0fW_y-YTWKqCRx_GctznfkCuw8$