Bond US Bidco 1 Inc

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	MTRL	PRCD	-	Bond US Bidco 1 Inc, Bond German BidCo 1 GmbH, Bond German BidCo 2 GmbH, Bond US Bidco 2 Inc, Bond US Bidco 3 Inc	-		2	USOA	May 7, 2026

Tranche #1Bond German BidCo 1 GmbH, Bond German BidCo 2 GmbH, Bond US Bidco 1 Inc, Bond US Bidco 2 Inc, Bond US Bidco 3 Inc

currency

EUR

size (m)

1,250.000

maturity

Jun 15, 2033

type

Fixed

tenor

7.000

call

3.00

registration

144A/Reg S

benchmark

DBR

ranking

Sr. Secured

moody's

s&p

fitch

BB-

size description

re-open/tap

ipt

Low 7s

ipt-pxd

-62.5

guidance

6.625%-6.875%; RVSD 6.50% area

spread

365

coupon

6.500%

spread set

price

100.00000

yield

6.500%

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 #2Bond German BidCo 1 GmbH, Bond German BidCo 2 GmbH, Bond US Bidco 1 Inc, Bond US Bidco 2 Inc, Bond US Bidco 3 Inc

currency

USD

size (m)

750.000

maturity

Jun 15, 2033

type

Fixed

tenor

7.000

call

3.00

registration

144A/Reg S

benchmark

7yr Tsy

ranking

Sr. Secured

moody's

s&p

fitch

BB-

size description

re-open/tap

ipt

Low 8s

ipt-pxd

-100

guidance

7.375%-7.625%; RVSD 7.25% area

spread

292

coupon

7.125%

spread set

price

100.00000

yield

7.125%

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: 2026-12-15; Redemption: 2029-06-15; Registration: 144A/Reg S; Comments: CoC: 101%; First Pay: 2026-12-15; Redemption: 2029-06-15; Registration: 144A/Reg S; Comments: CoC: 101%;

Use of Proceeds

Along with EUR750m term loan B, ~$1,400m (€1.2bn EUR-equiv.) USD Term Loan B and a pre-placed €600m CNY Term Loan B proceeds, to fund the acquisition of BASF Coatings Business by Carlyle, QIA and BASF

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	PRICED: BASF Coatings E1.95bn equiv 7NC3 sr sec, E1.25bn 6.50% at 100, $750m 7.125% at 100	May 7, 2026
	REVISED PX TALK/SIZES SET: BASF Coatings E1.95bn equiv 7NC3 sr sec, E1.25bn 6.50%a, $750m 7.375-7.25%x, pxg today	May 7, 2026
	PX TALK: BASF Coatings E1.95bn equiv 7NC3 sr sec, EUR 6.625-6.875%, $ 7.375-7.625%, pxg today	May 7, 2026
	NEW ISSUE: BASF Coatings E1.95bn equivalent (US$/EUR) 7NC3 sr sec notes 2-part	May 4, 2026

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Bond US Bidco 1 Inc

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