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Commentary & Deal Flow

NEW ISSUE: Zenita (Maticmind) E375m 7NC1 FRN, IPT E+550bp at par, on the road

HYC European Market: Deal Flow - General

Maticmind SpA (Zenita Group) EUR375m 144A/Reg S sr sec FRN due 2032 (7y). NC1 (MWC B+50bp) (101, par). Equity claw: 1y 40%. Expect B2/B (stable/stable). Via BNP (B&D) physical books/JPM/UniCredit jt glocos/CVC/Akros/BPER/CA/DB/IMI/Natixis jt books. No reg rights. List Lux. NY law. CoC at 101. Act/360. Denoms: 100kx1k. ISINs: Reg S: XS3239977997 / 144A: XS3239978961.

IPT: E+550bp at par.

Roadshow (1-on1s) 12/10-11 (investor call 4pm UKT 12/09). UOP: refinance EUR317m of existing sr debt ($53m term loan A due Nov 2028 and EUR265m term loan B due Nov 2029), EUR20m vendor loan, EUR20m Euromedia acquisition, EUR10m GCP. Equity sponsor: CVC 81.4% and CDP Equity (Cassa Depositi e Prestiti) 17.40%. Biz: leading provider of integrated smart digital infrastuctures. HQ: Milan, Italy.

Evercall link: https://evercall.co/oacc/26420. DealRoadshow entry code: ZENITA25.