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Commentary & Deal Flow

PRICED: Zenita (Maticmind) E375m 7NC1 FRN E+525bp at 100

HYC European Market: Deal Flow - General

Maticmind SpA (Zenita Group) (MATICM) EUR375m 144A/Reg S sr sec FRN due 12/31/32 (7y). NC1 (12/19/26) (MWC B+50bp), then at 101 12/19/26, 100 12/19/27. Equity claw: 1y 40% at 105.25. 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. Pays March 31, June 30, Sept 30 and Dec 31, starting 03/31/26 (Act/360). Denoms: 100kx1k. Settles 12/19 (T+5). ISINs: Reg S: XS3239977997 / 144A: XS3239978961. IPT: E+550bp at par. Price talk: E+525bp-550bp at par.

Priced: 3mE+525bp (0% floor) at 100.

Roadshow (1-on1s) 12/10-11 (investor call 4pm UKT 12/09). Books closed at 11:30 UKT 12/12. 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 infrastructures. HQ: Milan, Italy.

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