Related Issuers
by Stephen Carter
Feb 13, 2020 10:10 AM ET
TalkTalk Telecom Group plc GBP575m (up from GBP500m) Reg S sr notes due 20-Feb-2025 (5y). NC2 (MWC G+50bp), then at 101.938, 100.969, 100. Equity claw: 2y 40% at 103.875. NR/BB-)/BB- (--/positive/stable). Via Barc/HSBC (B&D)/NatWest joint glocos/physical books, Bank of Ireland, CIC, DNB, ING, MUFG, Santander joint leads. No reg rights. List ISE. NY law. Interest pays Feb 20 / Aug 20, starting 20-Aug-2020. Settles Feb 20 (T+5). ISIN: XS2121167345. IPT low 4s. Px talk: 4.00% area (+/- 0.125%). Final pricing: GBP575m at 3.875%.
Priced: 3.875% at 100. +341bp vs Gilt 5% 07/03/25.
Roadshow Feb 11-12. Books closed at 10am UKT today. UOP: redeem its GBP400m 5.375% sr notes due 01/15/22 (callable at 101.344), repay GBP87m drawn on its revolver; GBP75m upsize UOP: pay down revolver.. Biz: UK leading value-for-money provider of fixed-line connectivity services for residential and business customers.