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Commentary & Deal Flow

PRICED: ContourGlobal E675m 5.5NC2 sr sec notes 4.375% at 100

HYC European Market: Deal Flow - General

ContourGlobal Power Holdings SA (CONGLO) EUR675m 144A/Reg S sr sec notes due 07/31/31 (5.5y). NC2 (01/27/28) (MWC B+50bp), then at 102.1875 01/27/8, 101.0938 01/27/29, 100 01/27/30. Equity claw: 2y 40% at 104.375. Special call: 10% per year the first 2 years at 103. NR/BB/BB+ (--/stable/stable). Via KKR/Santander (B&D)  jt glocos/BNP/GS jt physical books/Mizuho/UniCredit jt books. No reg rights. List ISE. NY law. CoC at 101. Pays Jan 31 and July 31, starting 07/31/26 (30/360). Demons: 100kx1k. Settles 01/27 (T+9 US, T+10 UK). Reg S ISIN: XS3273053796. IPT: mid 4s. Price talk: 4.375% area.

Priced: 4.375% at 100.

Roadshow (small group meetings) 01/12-13 (investor call at 11am UKT 01/12). Books closed at 2:30pm UKT 01/13. UOP:  repay its existing EUR350m MidCo term loan due Nov 2030, repay its EUR300m 3.125% HoldCo sr sec notes due 01/01/28 (callable at 100). Equity sponsor: KKR Infrastructure. Biz: a U.K. listed developer and operator of wholesale electric power generation businesses. HQ: London, UK.

Netroadshow direct link: https://www.netroadshow.com/events/login/LE9zwo49BWKCi1uMZCDLcvOKnY6qAi00LBt.