Commentary & Deal Flow

PHOENIX PIB Dutch Finance BV, guaranteed by PHOENIX Pharmahandel GmbH & Co KG (PHARGR), rated BB+ (credit watch negative) by S&P, as well as PHOENIX International Beteiligungs GmbH, has mandated BNP/CA/DB/Helaba/UniCredit as jt books to organize a series of one-on-one fixed income investor calls. A euro-denominated, Reg S, senior unsecured, EUR 300mn exp. offering with a tenor of 5 years will follow, subject to market conditions. List Lux. UOP: GCP, including the repayment of existing financial indebtedness and/or financing and/or refinancing the McKesson Europe acquisition. Biz: a leading integrated healthcare provider in Europe operating in Pharmaceutical Wholesale, Pharmaceutical Retail and Pharma Services. HQ: Mannheim, Germany.