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by Stephen Carter
Jan 19, 2022 6:39 AM ET
eDreams ODIGEO SA (EDRSM) EUR375m 144A/Reg S sr sec notes due 2027 (5.5y). NC2 (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. Caa1/CCC+ (negative/positive, revised from negative). Via DB (B&D)/Barc/Santander jt glocos/BBVA/SocGen/MS jt books, Caixa as co-lead manager. No reg rights. List Lux. NY law.
Px talk: 5.50%-5.75%.
Virtual roadshow Mon-Tues (investor call 10am UKT Mon). Books close at 1:30pm UKT today. Pricing today UK afternoon. UOP: along with the capital increase (On 0/12 eDreams placed EUR75m shares (8.824m share at EUR8.50)), to repay its EUR450m 5.50% sr sec notes due 09/01/23 (callable at 101.375), and GCP. Biz: a leading online subscription company focused on travel. HQ: Madrid, Spain.