Commentary & Deal Flow

• Price Progression:
  • Priced: Undisclosed
• Issuer: Maxam Prill S.à r.l.
• Ticker: MXPRLL
• Deal Size: EUR175m
• Format: Reg S only
• Security: 6% Senior Secured Notes due 2030
• Issue Ratings: NR/B+/BB- (--/stable/stable)
• Maturity: 15-July-2030 (4y)
• Fungible: Immediately fungible
• Existing Issue: EUR180m add-on priced 02/26/26; EUR790m original issue priced 06/26/25
• Optional Redemption: NC0.75 (02-July-2027) (MWC B+50bp)
  • 02-July-2027: 103
  • 02-July-2028: 101.5
  • 02-July-2029: 100
• Equity claw: 0.75y 40% at 106
• Special call: 10% per year the first 2 years at 103
• Change of Control: CoC at 101
• Payment dates: June 15 / Dec 15
• Denominations: 100kx1k
• Reg S ISIN: XS3107119003
• Listing: Dublin
• Law: NY
• Lead Placement Agent: Goldman Sachs
• Settles: 30-October-2026
• Trade Date: 22-October-2026
• UOP: Together with available cash, finance a shareholder distribution, pay transaction fees and expenses
• Equity sponsor: Rhone
• Biz: Leading global civil explosives provider
• HQ: Madrid, Spain

https://investors.maxamprill.com/media/iv4j45ek/blossom-iii-deal-announcement.pdf