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by Stephen Carter
Jan 13, 2026 1:11 PM ET
MLP Group SA (MLGPW) EUR350m (will not grow) Reg S only green sr notes due 01/20/31 (5y). NC2 (01/20/28), then at 102.375 01/20/28, 101.1875 01/20/28, 100 01/20/29. Equity claw: 2y 40% at 104.75. Ba2/NR/BB+ (stable/stable). Via Santander (B&D) gloco/ING jt physical books. List Lux. NY law. CoC at 101. Pays Jan 20 and July 20, starting 07/20/26 (30/360). Denoms: 100kx1k. Settles 01/20 (T+5). ISIN: XS3239189296. IPT: low 5s. Price talk: 5.00% area. Final price talk: 4.75%-4.875% WPIR.
Priced: 4.75% at 100. +235.4bp vs OBL 2.20% 10/10/30.
Roadshow (small group meetings) 01/12-13 (investor call at 10:30am UKT). Books closed at 2:30pm UKT 01/13. Confirmations were due by 4pm UKT 01/13. UOP: partially refinance existing debt (EUR185m secured bank loans and EUR41m domestic series G sr unsec FRN due 2026), and EUR121m to fund land acquisitions and/or new developments. Equity ownership: Cajamarca Holland BV 43%, other Israeli Investors (including Land Development of Nimrodi Group) 23%, and other investment funds 34%. Biz: a leading European logistics platform. HQ: Pruszkow, Poland.
Netroadshow direct link: https://www.netroadshow.com/events/login/LE9zwo3i5IR74TCJ9OHRD6ReMVpSlmABmlC.