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by Stephen Carter
Dec 15, 2020 11:42 AM ET
House of HR NV (HOUSEH) EUR200m 144A/Reg S sr sub notes due 01/15/27 (6y). NC2 (MWC B+50bp), then at 103.75, 101.875, 100. Equity claw 2y 35% at 107.50. Caa1/CCC+ (stable/negative). Via JPM sole physical books, KKR lead manager. No reg rights. List ISE. NY law.Settles 12/22 (T+5). Reg S ISIN: BE6325871166. IPT low 8s. Px talk 7.75%-8.00%. Final Px talk 7.50%-7.625%.
Priced: 7.50% at 100. +828bp vs DBR 0.25% 02/15/27.
Virtual roadshow Mon-Tues (investor call at 1pm UKT Mon). Books closed at 2:30pm UKT today. UOP: GCP, including acquisitions. Equity sponsor: Naxicap. Biz: offers diversified HR services through three segments - Engineering and Consulting, Specialized Staffing and General Staffing. HQ: Roeselare, Belgium.