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Commentary & Deal Flow

NEW ISSUE: Intl Design Group E400m 5NC2 sr sec notes, IPT 10% area

HYC European Market: Deal Flow - General

+++Updates timing: roadshow today-Weds+++

International Design Group SpA (INTDGP) EUR400m 144A/Reg S sr sec notes due 2028 (5y). NC2 (50%,25%par). Expect B2/B/B (stable/stable/stable). Via JPM (B&D)/BofA/GS/UniCredit jt glocos/DNB/HSBC/Natixis jt books.No reg rights. List Lux. NY law.

IPT: 10% area.

Roadshow Mon-Weds (investor call at 11am UKT today). UOP: refinance its existing EUR400m 6.50% sr sec notes due 11/15/25 (callable 11/15/23 at 100). Equity sponsors: The Carlyle Group and Investindustrial. Biz: global designer and producer in the high-end furniture and lighting markets. HQ: Milan, Italy.