Commentary & Deal Flow

• Issuer: Guala Closures S.p.A.
• Ticker: GCLIM
• Size: EUR500m
• Format: Reg S / 144A
• Security: Senior Secured Floating Rate Notes
• Issue Ratings: B2 / B / B (negative/stable/stable)
• Tenor: 7y
• Optional Redemption: NC1, par (MWC B+50bp)
• CoC: investor put at 101
• Denominations: 100kx1k
• Reg S ISIN: XS3510185344
• 144A ISIN: XS3510255576
• Listing: Luxembourg Stock Exchange
• Law: New York
• Joint Global Co-ordinators and Physical Bookrunners: Deutsche Bank (B&D), JP Morgan
• Joint Bookrunners: UniCredit, Goldman Sachs, Mediobanca, UBS, IMI-Intesa Sanpaolo, Santander
• UOP: Proceeds will be used, together with cash on hand, directly or indirectly, (i) to redeem the Existing EUR500m 3.25% Fixed Rate Notes due 15-June-2028 (callable at 100) and pay any accrued and unpaid interest thereon and (ii) to pay fees and expenses in connection with the Transactions
• Biz: A world leading producer in the high value-added closures market.  HQ: Alessandria, Italy.
  Marketing:
• Investor Call: Monday, 21st September at 11:00am UKT / 12:00pm CET
• Fixed income investor meetings: Monday, 21st to Tuesday, 22nd September

NetRoadshow / GIC Registration: https://www.netroadshow.com/events/login/1PeTHmohJbG9c9UsYBEvDwIRSW8CRRNZ8z6uG
RSP link: www.netroadshow.com/nrs/home/#!/?show=6baa2610
OR Visit www.netroadshow.com and enter the entry code: Guala2026 (not case-sensitive)