Commentary & Deal Flow

PrestigeBidco GmbH (BestSecret Group) (SCHUBR) EUR315m 144A/Reg S sr sec FRN due 2027 (5y). NC1 (101, par). (Current corporate credit ratings B2/B (positive/stable)). Via DB/GS (B&D)/JPM/UniCredit jt books. List ISE. NY law.

Px talk 3mE+600bp (1% floor), 85 OID.

Investor call at 11am UKT today and small group meeting today. Pricing is expected tomorrow. UOP: repay and redeem its EUR260m 6.25% sr sec notes due 12/15/23 (callable at 100), GCP. Equity sponsor: Permira (the Schustermann and Borenstein families own the remainder). Biz: European members-only destination for online off-price fashion with a focus on mid-market to luxury fashion. HQ: Munich, Germany.