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Commentary & Deal Flow

NEW ISSUE: NJJ Continental CHF205m 5NC2 Sr Sec Notes, Investor Calls Mon-Tues

HYC European Market: Deal Flow - General
  • Issuer: NJJ Continental SA (Ticker: MATTER)
  • Size: CHF 205m
  • Format: Reg S
  • Security: Senior Secured Notes
  • Corporate Ratings: B1 / BB- / BB- (M/S/F)
  • Issue Ratings: B1 / BB- / BB+ (M/S/F)
  • Maturity: 2031 (5y)
  • Optional Redemption: NC2 (MWC SWISS+50bp) ((50%, 25%, par). Equity claw: 2y 40%
  • Change of Control: investor put at 101
  • Listing: SIX Swiss Exchange
  • Law: New York
  • Denoms: 100kx1k
  • Goldman Sachs International (B&D, Sole Global Coordinator and Physical Bookrunner)
  • BNP PARIBAS, BofA Securities Europe SA, Crédit Agricole Corporate and Investment Bank, J.P. Morgan SE, Société Générale, UBS AG London Branch (Joint Bookrunners)
  • UOP: Fully repay existing CHF200m 5.25% sr sec notes due 07/31/28 on or after next call date (31-Jul-26 at 101.313) and fund transaction and redemption costs
  • Equity sponsor: NJJ Holding the private holding company of entrepreneur and telecommunications investor Xavier Niel
  • Biz: A scaled, multi-country integrated telecommunications business consisting of Salt Group and Monaco Telecom Group (“MTG”), with extensive operations across Switzerland through the former, and Monaco, Cyprus and Malta through the latter. HQ: Prilly, Switzerland
    Marketing:
  • Global Investor Call: Today 6th of July at 11:00 UKT / 12:00 CET
  • Fixed income investor meetings: July 06-07
  • Netroadshow direct link: https://www.netroadshow.com/events/login/1PeTHmohTHi6n7tdJVGuPgDShKfUUDovPVraj; Entry code: NJJ2026