NEW ISSUE: United Group €625m 9NC3 Snr Sec; IPT 6.50%a, investor call today
HYC European Market: Deal Flow - General
Issuer
Term
Call
Maturity
Size
Ranking
Type
IPT
United Group B.V.
9NC3
3yr
May-33
€625m
Snr Sec
Fixed
6.500%a
IPTs: 9NC3: 6.500%a
Issuer: United Group B.V.
Ticker: ADRBID
Business: The leading telecommunications player in Southeastern Europe (Bulgaria, Serbia, Slovenia, Croatia, Bosnia & Herzegovina, Montenegro and Greece). HQ: Amsterdam, Netherlands
Size: €625m
Instrument: Senior Secured Notes
Maturity: May 2033
Call Protection: NC3; 50%, 25%, Par
IPTs: 6.500% area
Expected Ratings: B2/B (Moody's/S&P)
Use of Proceeds: Refinance existing EUR625m 3.625% SSNs due 15-Feb-28 (callable at 100) (including any accrued and unpaid interest thereon) and pay fees and expenses in connection with the transaction
Format: 144A/Reg S
Denominations: €100k x 1k
Listing: The International Stock Exchange
Governing Law: State of New York
Equity sponsor: BC Partners (56%).
Target Market: Manufacturer target market (EEA MiFID II/UK MiFR professionals/ECPs-only) is eligible counterparties and professional clients only (all distribution channels)
Global Coordinator and Physical Bookrunner: JPM (B&D)