NEW ISSUE: TELPARK €540m 5NC2 Snr Sec; IPT High 4s-5%
HYC European Market: Deal Flow - General
Issuer
Term
Call
Size
Ranking
Type
IPT
Arena Luxembourg Finance S.à.r.l
5NC2
2y
€540m
Snr Sec
Fixed
High 4s-5%
IPTs: 5NC2: High 4s-5%
Company: Telpark (Ticker: EMPARQ)
Issuer: Arena Luxembourg Finance S.à.r.l
Business: Telpark (fka Empark) is one of the leading Iberian urban mobility operators with a highly resilient infrastructure-backed business model. HQ: Madrid, Spain
Call Protection: 5NC2 (MWC B+50bp) (50%/ 25% / Par). Equity claw: 2y 40%. Special call: 10% per year the 1st 2 years at 103.
CoC: 101.
UOP: fund the tender offer for its EUR475m 1.875% sr sec notes due 02/01/28; Discharge all obligations for the remaining notes; Repay EUR43m drawn on tis revolver; EUR15m for GCP, including potential acquisitions; Pay for transaction fees and expenses.
Distribution: Reg S / 144A
Denomination: €100k x €1k
Listing: Official List of the Luxembourg Stock Exchange
Law: New York
Equity sponsor: Macquarie Infrastructure and Real Assets
Target Market: Manufacturer target market (MIFID II / MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK
Global Coordinators and Joint Physical Bookrunners: J.P. Morgan (B&D), Goldman Sachs Bank Europe SE
Bookrunners: BNP Paribas, BofA Securities
Global Investor Call: Monday, 08-Jun @ 12:30-1:30pm UKT / 1:30-2.30pm CET
Roadshow: Small group 1x1s available on 08-Jun (2.00-5.50pm UKT) and 09-Jun (8.00-11.50am UKT)