FINAL PX TALK: Egis SA €400m 5NC2 Sr Notes 5.25% area, pxg today
HYC European Market: Deal Flow - General
Issuer
Term
Call
Maturity
Size
Ranking
Type
IPT
Final Px Talk
EGIS SA
5NC2
2y
5yr
€400m
Sr Notes
Fixed
Mid-to-high 5%s
5.25%a
Final price talk: 5NC2: 5.25% area (+/- 0.125%)
IPTs: 5NC2: Mid-to-high 5%s
Issuer:Egis SA
Issuer Business: A leading global company providing services to the infrastructure industry (architecture, consulting, engineering, project management, and operations & mobility services (toll roads, railways and airports)). HQ: Saint-Quentin-en-Yvelines CEDEX, France
Use of Proceeds (UOP): Along with cash on hand, to repay €300m bridge loan incurred to fund the acquisition of Lochner, repay €74m of €943m bank debt, and €26m for GCP and to pay transaction-related costs and expenses.
Instrument: Senior Notes
Offering Size: €400,000,000
Tenor: 5 Years (5NC2)
Call Protection: Non-callable for 2 years (NC2), with a call schedule of 50%, 25%, and Par thereafter. MWC B+50bp, Equity claw: 2y 40%. Special call: 10% per year, the 1st 2 years at 103
Change of Control: Includes a put option for bondholders at 101% of face value.
Denominations: €100,000 minimum with increments of €1,000.
Distribution: Reg S / 144A
Governing Law: New York Law
Listing: The International Stock Exchange
Shareholders: CDC (100% owned by the French Government) (34%), Tikehau Capital (43%), and Egis management and employees (23%).
Global Coordinators & Joint Physical Bookrunners: BNP Paribas (B&D), BofA
Joint Bookrunners: CACIB, Natixis, SG
Target Market: The offering is available to Eligible Counterparties and Professional Investors only. It is not available to retail investors in the EEA or the UK.
Timing: Books close at 4:45 UKT (5:45 CET), Allocs thereafter