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by Stephen Carter
Nov 04, 2021 2:09 PM ET
SIG plc (SHILN) EUR300m 144A/Reg S 1st lien sr sec notes due 11/30/26 (5y). NC2 (MWC B+50bp), then at 102.625, 101.313, 100. Equity claw: 2y 40% at 105.25. B1/B+ (stable/stable). Via HSBC (B&D)/Barc jt glocos/BNP/Lloyds/NatWest jt books. No reg rights. List ISE. NY law. Settles 11/18 (T+10). Reg S ISIN: XS2404291010. IPT: mid 5s. Px talk: 5.375% area.
Priced: 5.25% at 100. +580bp vs DBR 0.25% 02/15/27.
Roadshow Mon-Weds (investor call at 12pm UKT Mon). Books closed at 3pm UKT today. UOP: refi debt (GBP131m of private placement notes and GBP70m of term loans), and GBP31.4m GCP. Equity sponsor: CD&R. Biz: leading supplier of specialist building products (including insulation, roofing and commercial interiors) to trade customers across Europe. HQ: Sheffield, UK.