Commentary & Deal Flow

Getlink SE (GETFP) EUR150m Reg S add-on to its 3.50% sr sec green notes due 10/30/25 (3y). NC1 (10/30/22) (MWC B+50bp), then at 101.75, 100.875, 100. Equity claw: 1y 40% at 103.50. NR/BB-/BB (--/negative/stable). Via BNP/GS joint glocos and active books/SocGen joint books. No reg rights. Debt service reserve account covering 12mos of interest on the notes and commitment fees on the RCF. List Dublin. English law. Settles (T+5). ISIN: XS2247623643. Fully fungible with the original $700m issue priced 10/22/20.

Px talk: 101.50-101.75.

Did investor call at 10am UKT yesterday, 1-on-1s yesterday-today. Books close at 1pm UKT today. Pricing today UK afternoon. UOP: to fund eligible green assets. Biz: A leading operator of mobility and infrastructure assets; it is the parent company of Eurotunnel, the leader in cross-Channel transportation. HQ: Paris, France.