Nexture SpA (NXTURE) EUR425m 144A/Reg S sr sec FRN due 07/30/32 (7y). NC1 (07/15/26)(MWC B+50bp) then at par. B2/B/BB- (stable/stable/stable). Via BNP/Unicredit (B&D) jt physical books/CA/IMI/Natixis/UBS jt glocos and books. No reg rights. List Lux. NY law. CoC at 101. Pays January 15, April 15, July 15, and October 15, starting 10/15/25. Denoms: 100x1. Reg S ISIN: XS3111001817. Settles 07/24 (T+7). IPT: E+450bp at 98.50-99.00. Price talk: E+425-450bp at 99.00. Revised price talk: E+400-425bp at 99.00.
Priced: 3mE(0% floor)+400 at 99.00.
Roadshow (investor meetings) 07/10-14 (investor call 11am UKT 07/10). Books closed at 2:30pm UKT 07/15. Reconfims were due at 4:00pm UKT 07/15. UOP: repay EUR404m of certain debt of the CSM Group (EUR245m term loan B and $26m drawn on its revolver) and the ItalCanditi Group (EUR133m term loan) and GCP. Equity sponsor: Investindustrial. Biz: global integrated platform active in the development and manufacturing of high quality food ingredients. Nexture will be created from the combination of Investindustrial's two portfolio companies CSM Ingredients Sarl and Italcanditi SpA. HQ: Milan, Italy.
Deal Roadshow direct link: https://dealroadshow.com/e/NEXTURE25.