Commentary & Deal Flow

Ontex Group NV (ONTEX) EUR580m Reg S sr notes due 2026 (5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. B1/BB- (stable/negative)). Via BNP/BoA/GS (B&D) jt glocos and physical books/CA/HSBC/ING jt books, KBC, SocGen passive books. List Lux. NY law. IPT: high 3s.

Px talk: 3.50%-3.75%.

Did investor call at 10:30am UKT yesterday. Also did roadshow 06/22-24. Books close at 11am UKT today. Pricing today UK afternoon. UOP: along with a new EUR220m term loan to repay in full its existing EUR150m Bilateral facility, EUR30m revolver and EUR600m term loan. Biz: a leading provider of personal hygiene products worldwide. HQ: Aalst-Erembodegem, Belgium.