Commentary & Deal Flow

+++Adds full maturity date+++

Samsonite Finco Sarl (SAMISA) EUR350m 144A/Reg S sr notes due 02/15/33 (7.25y). NC3 (11/15/28) (MWC B+50bp), then at 102.1875 11/15/28, 101.09375 11/15/29, 100 11/15/30. Equity claw: 3y 40% at 104.375. B1/BB+/BB+ (stable/stable/stable). Via JPM (B&D)/HSBC jt physical books/BNP/Citi jt glocos/Barc/BofA/MS/Santander/TSI jt books, BBVA, Citizens, FITB, Key, PNC, Scotia, Siebert, StanChart, Wedbush as co-managers. No reg rights. List ISE. NY law. CoC at 101. Pays May 15 and Nov 15, starting 05/15/26 (30/360). Denoms: 100kx1k. Settles 11/11 (T+8). Reg S ISIN: XS3224634991. IPT: high 4s. Price talk: 4.50%-4.75%. Price talk: 4.375%-4.50%.

Priced: 4.375% at 100. +192bp vs DBR 2.30% 02/15/33.

Did investor call at 12pm UKT 10/28. Books closed at 1pm UKT 10/30. UOP: along with $750m term loan A and $494m term loan B, to refinance its existing term loans ($760m term loan A, $495m term loan B, and $100m drawn on its revolver) and redeem its EUR350m 3.50% sr notes due 05/15/26 (callable at 100). Biz: the world’s best known and largest travel luggage company and a leader in global lifestyle bags. HQ: Mansfield, MA.

Netroadshow link: https://www.netroadshow.com/events/login/LE9zwo4BQdQldmFT8of9ZYRVIAV6wZEPjoe.