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by Stephen Carter
Dec 01, 2025 7:01 AM ET
Celsa Opco SAU (BRNAES) EUR1.2bn green sr sec notes fixed/floater 2-part. Ratings TBD. Via GS (B&D)/Barc/JPM jt physical books/BBVA/BNP/Citi/StanChart/RBC jt books. No reg rights. List Vienna. NY law. Denoms: 100kx1k.
- EUR TBD sr sec fixed rate notes due 2030 (5y). NC2 (50%,25%,par). IPT: 9% area.
- EUR TBD sr sec FRN due 2030 (5y). NC1 (par). IPT: E+625bp at 98.50-99.00.
Roadshow (small group meetings) 12/01-03 (investor call at 12:30pm UKT 12/01). UOP: along with cash on hand, a draw on its super sr revolver, the shareholer HoldCo PIK facility and the Equity Prefunding Loan, to repay debt. An equivalent amount of the net proceeds will be allocated to eligible green projects as outlined in the Green Bond Framework. Equity sponsor: Attestor Capital, Strategic Value Partners. Biz: One of the largest vertically integrated EAF producers of recycled low-emission long steel products in Europe, benefiting from an advantaged footprint aligned with supportive market dynamics and exposure to higher-growth Iberian and Polish economies. HQ: Barcelona, Spain.
Netroadshow link: https://urldefense.com/v3/__https:/www.netroadshow.com/nrs/home/*!/?show=7954a6b2__;Iw!!O2kDR7mm-zSJ!r0-56gOuIa41amw8bTGrJ3ZhU_vgXM7tr5WFd58KEl0RCDq90xP6-MMwY5wEu9YMu1iRATElEM73TveJcg$. Entry code: CELSAEUR2025.