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by Stephen Carter
Jan 28, 2026 5:55 AM ET
Italmatch Chemicals SpA (FIREBC) EUR690m 144A/Reg S sr sec notes two-part. B2/B/ B (stable/stable/stable). Via BNP/GS (B&D) jt physical books/Citi/CA/UniCredit jt glocos and jt books. No reg rights. List Lux. NY law. CoC at 101. Denoms: 100kx1k.
- EUR300m minimum fixed rate notes due 2031 (5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103.00. IPT high 6%-7%.
- EUR300m minimum FRN due 2031 (5y). NC1 (MWC B+50bp) (par). IPT: low-to-mid E+400s.
Roadshow (small group meetings) 01/26-28 (investor call at 11:30am UKT 01/26). Pricing 01/29. UOP: along with EUR18m cash on hand, to redeem its EUR390m sr sec FRN due 02/06/28 (callable at 100) and EUR300m 10% sr sec notes due 02/05/28 (callable at 102.50 on 02/06/26). Equity sponsor: Bain. Biz: leading global specialty chemicals manufacturer. HQ: Genoa, Italy.
DealRoadshow direct link: https://dealroadshow.com/e/ITALMATCH26. Entry code: ITALMATCH26.