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Commentary & Deal Flow

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NEW ISSUE: Nexture E475m 6.5NC1 sr sec FRN, IPT E+275bp area, on the road

HYC European Market: Deal Flow - General

Nexture SpA (NXTURE) EUR475m 144A/Reg S sr sec FRN due 07/30/32 (6.5y). NC1 (par). Expect B2/B/B+ (stable/stable/stable). Via Unicredit (B&D)/BNP/UBS jt physical books/ISP/CA/Natixis jt glocos/ING/Rabo jt books. No reg rights. List Lux. NY law. CoC at 101. Day count: Act/365.  Denoms: 100x1.

IPT: E+275bp area (+/- 12.5bp) at par.

Roadshow (investor meetings) 01/27-28 (investor call 2pm UKT 01/26). UOP: fund the cash purchase price for the Frulact and Sipral acquisitions, including repayment of Frulact's and Sipral's existing debt. Equity sponsor: Investindustrial. Biz: global integrated platform active in the development and manufacturing of value-added highly customized food systems and fruit-based ingredients. Nexture was created in 2025 from the combination of Investindustrial's two portfolio companies CSM Ingredients Sarl and Italcanditi SpA. HQ: Milan, Italy.

Netroadshow direct link: https://www.netroadshow.com/events/login/LE9zwo3l1chJpzXvqxwVfiHwsrE1D4gMo9J.