Commentary & Deal Flow

 Nordic deal: Wellbore Integrity Solutions Parent Inc (WELBOR) US$125m sr sec 1st priority notes due 2029 (4y). NC2 (MWC), thereafter callable at par + 50/30/15/0% of the interest rate after 24/30/36/42 months. Via Arctic/Pareto jt books. List Frankfurt. Norwegian law. CoC at 101. Semi pay. Denoms: 125kx125k.  ISIN: NO0013665786 during the compliance period. ISIN: NO0013665794 after the compliance period. IPT: 12% coupon at 98 issue price.

Final terms: US$125m 12% coupon at 98 issue price.

Did a series of fixed income meetings starting  09/05. Books close at 7pm CEST 09/17. Allocations out 09/18 morning CEST. UOP: refinance debt, GCP. Equity sponsor: Rhone. Biz: oil field services. HQ: Houston, TX.