Commentary & Deal Flow

Playtech plc (PTECLN) EUR300m (WNG) Reg S only sr sec notes due 06/28/28 (5y). NC2 (MWC B+50bp), then at 102.938, 101.469, 100. Ba2/BB (stable/stable). Via Citi/NatWest (B&D)/Santander/UniCredit jt books, AIB, BOI as co-managers. No reg rights. List Dublin. English law. Settles 06/28. ISIN: XS2641928036. IPT: low-mid 6s. Px talk: 6.00%-6.25%. Revised px talk: 5.875%-6.00% (WPIR). Final terms: EUR300m at 5.875%.

Priced: 5.875% at 100. +331bp vs OBL 2.40% Oct 2028.

Did investor call at 11am UKT Monday (small group meetings Mon-Tues). Books closed at 1pm UKT today. Reconfirms were due by 3pm UKT today. UOP: repay its EUR200m 3.75% sr sec notes due 10/12/23 (callable at 100), repay EUR46.8m drawn on its revolver, GCP. Biz: a leading technology company in the gaming industry, including providing online gambling software and services. HQ: Isle of Man.