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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
FNCL
PRCD
KINGUS
King US Bidco Inc (Kelvion)€750
1EMEA
Nov 12, 2025
currency
EUR
size (m)
750.000
maturity
Dec 1, 2032
type
Floating
tenor
7.000
call
1.00
registration
144A/Reg S
benchmark
3mEu
ranking
Sr. Secured
moody's
B1
s&p
B+
fitch
BB+
size description
-
re-open/tap
No
ipt
3mEu+375-400 at par
ipt-pxd
-62.5
guidance
3mEu+350 a (+/-12.5); FINAL 3mE+325bp-337.5bp
spread
325
coupon
3mEu+325
spread set
-
price
100.00000
yield
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
-
active leads
joint leads
passive leads
-
co-managers
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
-
active leads
joint leads
passive leads
-
co-managers
coordinating managers
-
Tranche Comments
First Pay: 2026-04-15; Redemption: 2026-12-01; Registration: 144A/Reg S; Comments: DEU (B&D). Final PX Guidance: E+325-337.5bp at par;
Use of Proceeds
To fund the acquisition of a majority stake in Kelvion by Apollo from Triton Partners (which will remain a minority partner), including repaying existing debt, for a total value of around EUR2bn including debt