Related Issuers
by Stephen Carter
May 05, 2022 9:34 AM ET
Loarre Investments Sarl (LaLiga) (LNFPES) EUR850m 144A/Reg S sr sec notes 2-part. Expect Ba3/NR/BB. Via GS (gloco/B&D)/DB/CS jt books. No reg rights. List ISE. NY law. Tranche sizes TBD.
- EUR TBD fixed-rate notes due 2029 (7y). NC3 (MWC) (50%,25%,par). Equity claw: 3y 40%. Special call: 10% per year the first 3 years at 103.
- EUR TBD FRN due 2029 (7y). NC1 (MWC) (101, par).
Roadshow 05/06-11 (investor call at 12pm 05/06). UOP: partially fund CVC's EUR2bn acquisition of an approximately 8.2% economic participation in the LaLiga's profit for a 50-year period. The investment transaction closed 02/01/22 and the investment will be deployed in stages between Jan 2022 and June 2024. The bond proceeds will also fund a Debt Service Reserve Account. CVC will contribute EUR1.2115bn in equity. Biz: Lorre is an investment vehicle established by CVC to invest EUR2bn of capital into the Spanish football ecosystem. LaLiga is the premier professional soccer league in Spain. HQ: Madrid, Spain.