Related Issuers
by Stephen Carter
Apr 20, 2021 6:33 AM ET
HSE Finance Sarl EUR630m 144A/Reg S sr sec notes 2-part. Via DB gloco and physical books/BNP/HSBC/ING/Jefferies/UBS/UniCredit jt books. No reg rights. List ISE. NY law. Tranche sizes TBD.
- EUR TBA fixed-rate due 2026 (5.y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the 1st 2 years at 103.
- EUR TBA FRN due 2026 (5.5y). NC1 (MWC B+50bp) (101, par). Floats/pays quarterly vs 3mE (0% floor).
Virtual roadshow today-Thurs (investor call at 12:30pm today). Pricing late this week. UOP: along with EUR17m cash on hand, to refinance its existing bank debt (EUR393m) and distribution to shareholders (EUR242m). Equity sponsor: Providence Equity Partners. Biz: A Leading player in the European live-commerce market (TV channels and internet) (Home Shopping Europe, HSE24. HQ: Ismanning, Germany.