Business: Leading Italian provider of digital transformation and AI solutions, specializing in the design, implementation and management of innovative technologies for enterprise customers and public administrations. HQ: Cologno Monzese, Milan, Italy.
UoP: along with EUR96m, to redeem its existing EUR338m 5.00% Senior Secured Notes 05/08/27 (callable 05/12/26 at 100), repay its EUR100m term loan A, EUR50m shareholders’ distribution and pay transaction costs
Instrument: Senior Secured Fixed Rate Notes
Tranche size: €400m
Tenor: 5-years
Call protection: NC2 MWC (B+50bp) (50%,25%,Par). Equity claw: 2y 40%. IPO claw: 2y in whole or in part with the IPO proceeds at 102. Special call: 10% per year the first 2 years at 103.
Existing corporate ratings (M/S): B2 / B (Moody's/S&P)
Existing instrument ratings (M/S): B2 / B (Moody's/S&P)
Day count convention: Interest will be computed on the basis of a 360 day year comprised of twelve 30 day months
Target Market: The manufacturer target market (MiFIR and MIFID II product governance) is eligible counterparties and professional clients. No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK
Global Investor Call: Tuesday 28-Apr - 3:30PM UKT / 4:30PM CET