Related Issuers
by Stephen Carter
May 12, 2023 7:19 AM ET
Cedacri SpA (CEDCRI) EUR275m (up from EUR250m) 144A/Reg S sr sec FRN due 05/15/28 (5y). NC1 (MWC B+50bp) (par). Equity claw: 1y 40%. 90% clean-uup call. B3/B/B (stable/negative/negative). Via BNP (B&D) gloco/UniCredit jt books. No reg rights. List Dublin and Vienna. NY law. IPT: 3mE+550bp (0% floor) at 92-93. EER25m upsize to fund OID and GCP.
Guidance: 3mE+550bp (0% floor) at 93.50 area (+/- 0.50 pt).
Roadshow 05/10-25 (Investor call at 3pm UKT 05/10). Books close at 2pm UKT today. Pricing today UK afternoon. UOP: fund a EUR50m tax step-up payment, fund a EUR150m shareholder distribution, and GCP. Equity sponsor: ION Investment Group. Biz: provider of core banking infrastructure, software and other IT products and services, predominantly to the Italian market. HQ: Collecchio, Italy.