NEW ISSUE: Birkenstock €900m 7NC3 Sr Unsec on the road
HYC European Market: Deal Flow - General
Issuer
Term
Call
Maturity
Size
Ranking
Type
ISIN
Birkenstock Group B.V. & Co. KG
7NC3
3yr
19-Jun-33
€900m
Sr Unsec
Fixed
REGS: XS3410944709 / 144A: XS3410944881
Issuer: Birkenstock Group B.V. & Co. KG
Business: Global German footwear designer, manufacturer, and distributor
Use of Proceeds (UoP): Redemption of the existing notes issued by Birkenstock Financing S.à r.l., share repurchases by Birkenstock Holding PLC or refinancing other indebtedness and GCP, and pay related fees and expenses
Expected Corporate Ratings: BB+/BB+ (S&P/Fitch)
Expected Issue Ratings: BB+/BB+ (S&P/Fitch)
Currency: EUR
Offering Size: €900,000,000
Instrument: Senior Unsecured Fixed Rate Notes
Tenor: 7 Years
Call Protection: NC3 (50%, 25%, PAR)
Change of Control: Put @ 101, subject to ratings based portability defined on the OM
Distribution: Reg S / 144A for life
ISIN:
Reg S: XS3410944709
144A: XS3410944881
Day Count: 30/360
Denominations: €100k x €1k
Listing: TISE
Governing Law: New York Law
Settlement: 19-Jun-26 (T+5)
Joint Global Coordinators and Bookrunners: BNP Paribas (B&D), JPM
Target Market: No EU PRIIPs key information document (KID) and no UK disclosure document required by DISC have been prepared as the notes are not available to retail in EEA or UK