Commentary & Deal Flow

US$ Nordic market: Accurus Aerospace Corporation (ACCAER) US$400m sr sec notes due 09/10/31 (5y). NC2 (American) at 103% / 102% / 101% / 100% after 24 / 36 / 48 / 54 months after the First Issue Date. Upon redemption prior to the First Call Date (24 months), the redemption premium will comprise 3% + the sum of all remaining interest payments up to, but not including, the First Call Date. Equity claw: Up to 35% of Outstanding Nominal Amount if financed by equity (redemption at applicable Call Option Amount or First Call Date price if exercised before First Call Date). Not rated. Via Pareto Securities sole books. List ISE. Swedish law. CoC at 101. Semi pay. Denoms: 125k x 1k.  Settles 09/10. ISIN: NO0013758961 (During Compliance Period). NO0013757799 (After Compliance Period).

IPT: 9.50%-9.75% at par.

Roadshow started 08/19 (1-1 meetings) (GIC 3pm CEST / 9am EDT 08/20; and 4pm CEST / 10am EDT 08/24). Pricing 08/27. UOP: to refinance debt, partially refinance subordinated capital and GCP, including investments and acquisitions. Equity sponsor: Liberty Hall Capital. Biz: a leading Tier II manufacturer and integrator of metallic based, highly engineered components and assemblies, supporting the global commercial aerospace, space, and defense industries. HQ: Tulsa, OK.