Commentary & Deal Flow

Emerging Market: InPost SA EUR390m 144A/Reg S sr notes due 2027 (6y). NC2 (50%,25%,par). Ba2/--/BB (stable/--/stable). Via BNP/JPM/Bank Pekao jt glocos and physical books. No reg rights. List ISE. NY law.

IPT: high 2s

Did investor call at 11am UKT Mon, virtual roadshow Mon-Weds. Pricing tomorrow. UOP: along with PLN800m (approx. EUR170m) gtd sr notes due 2027, to finance the acquisition of Mondial Relay for EUR565m, pay down revolver, cash on the B/S. Biz: a leading e-commerce logistics platform in Poland and France (post the acquisition). HQ: Krackow, Poland. (Acquisition announced 03/15/21).