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Commentary & Deal Flow

NEW ISSUE: HIME - SAUR E500m (WNG) 5NCL sr notes, IPT 4.50% area, pxg today

HYC European Market: Deal Flow - General

Holding d'Infrastructures des Metiers de l'Environnement SAS (HIME) - SAUR (SAUR) EUR500m WNG Reg S (Cat 2) bearer sr unsec notes blue bond due 01/31/31 (5.25y). NCL (MWC, 3mo par call, 75% clean-up call). NR/BB+/BB+ (stable/stable). Via BNP/HSBC (B&D)/MS/Natixis jt glocos and jt active books/CA/Rabo jt passive books. Natixis is acting as ESG Coordinator. List Dublin. English law. CoC. Annual pay, Act/Act. Denoms: 100kx1k. Settles 10/01 (T+6). ISIN: XS3191437006.

IPT: 4.50% area.

Did investor calls 09/22. Pricing 09/23. UOP: fund eligible Blue Projects, fund the tender offer for its EUR300m 4.500% Sustainability Linked sr notes due April 2027 (ISIN XS2608828641) (BNP/HSBC/MS/Natixis are dealer managers) and GCP. Biz: provides water infrastructure. HQ: Issy Les Moulineaux, France.

Netroadshow direct link: https://urldefense.com/v3/__http:/www.netroadshow.com/nrs/home/*!/?show=7d6728b5__;Iw!!McNQVg!G_wlH6Fh8nld7sqjAivyJObM-2KRTVKNBGl8wWfw-aYWJDBDx_s7d-EMall3hoxx-zSMmu4Iyw5MFHUGgDrQF2F7yA$. Entry code: Saur25.