Commentary & Deal Flow

Parts Europe SA (PHE) (AUTODI) EUR380m (up from EUR350m) 144A/Reg S sr sec 1st lien FRN due 07/20/27 (6y). NC1 (MWC B+50bp), then at 101, 100. B3/B- (stable/positive). Via BNP (physical books, B&D)/Barc/GS jt glocos and books. No reg rights.Quarterly pay starts 10/20/21. List ISE. NY law. Settles 07/15 (France T+5 ; US T+6). Reg S ISIN: XS2362322930. IPT: E+450-475bp. Px talk: E+425-450bp (0% floor) at par. Px talk: E+425-450bp (0% floor) at par. Final px talk: E+400-425bp (0% floor) at par.

Priced: 3mE+400bp (0% floor) at 100.

Roadshow Mon-Weds (investor call at 2pm UKT Mon). Books closed at 12:30pm UKT today. Reconfirm were due by 1:15pm UKT today. UOP: repay its EUR304m E+437.5bp FRN due 05/01/22 (callable at 100), repay PGE facility, GCP (EUR30m upsize for GCP). Equity sponsor: Bain. Biz: omni-channel distributor serving the automotive independent aftermarket with leading positions in key western continental European markets. HQ: Arcueil, France.