by Stephen Carter
Nov 08, 2023 10:25 AM ET
International Design Group SpA (INTDGP) EUR425m (up from EUR400m) 144A/Reg S sr sec notes due 2028 (5y). NC2 (MWC B+50bp) (50%,25%par). IPO call: 2y 100% at 102. Equity claw: 2y 40% at par + 1/2 the coupon. Special call: 10% per year the first 2 years at 103. 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. Px talk: 10% area. EUR25m upsize to repay revolver.
Final terms: EUR425m at 10%.
Roadshow Mon-Wed (investor call at 11am UKT 11/06). Books closed at 2:30pm UKT today. Pricing today UK afternoon. UOP: refinance its existing EUR400m 6.50% sr sec notes due 11/15/25 (callable 11/15/23 at 100) (EUR25m upsize to repay revolver). Equity sponsors: The Carlyle Group and Investindustrial (roughly 48% and 48%). Biz: global designer and producer in the high-end furniture and lighting markets. HQ: Milan, Italy.