Commentary & Deal Flow

 Nordic deal: Wellbore Integrity Solutions Parent Inc (WELBOR) US$125m sr sec 1st priority notes due 10/02/29 (4y). NC2 (10/02/27) (MWC), thereafter callable at 106.00 10/02/27, 103.60 04/02/28, 101.80 10/02/28, 100 04/02/29 (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 starts 04/02/26. Denoms: 125kx125k.  Trade date 10/18. Settles 10/02 (T+10). 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.

Priced: 12% coupon at 98.

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