Commentary & Deal Flow

Mobilux Finance SAS (MOBLUX) EUR500m 144A/Reg S sr sec notes due 07/15/28 (7y). NC3 (MWC B+50bp), then at 102.125, 101.0625, 100. Equity claw: 3y 40% at 104.25. B3/B/B (stable/positive/stable). Via BNP sole gloco and physical books/Barc/BofA/CA/DB/GS/ING/RBC jt books. No reg rights. List Lux. NY Law. Settles 06/29 (T+4). Reg S ISIN: XS2357737910. IPT: mid-high 4s. Px talk: 4.25-4.50%.

Priced: 4.25% at 100. +470bp vs DBR 0.50% 02/15/28.

Roadshow Mon-Weds (Investor call at 10:30am UKT 06/21). Books closed at 12:30pm UKT today.  UOP: Along with EUR203m cash on hand, to refinance its existing $380m 5.50% sr sec 1st lien notes due 11/15/24 (callable at 101.375), fund a EUR300m distribution to shareholders (repay EUR85m shareholder loan and EUR215m dividend). Equity sponsor/owner: CD&R (50%) and WM Holding (XXXLutz Group) (50%). Biz: leading home equipment retailer in France. HQ: Emerainville, France.