Commentary & Deal Flow

B&M European Value Retail SA (BMELN) GBP250m Reg S sr sec notes due 2030 (7y). NC3 (MWC G+50bp) (50%,25%,par). Equity claw: 3y 40%. Ba1/(current BB) (stable/positive). Via HSBC (B&D & logistics)/BNP jt physical books/BofA jt glocos/Lloyds/NatWest/Rabo/Bank of Ireland jt books. List Lux. NY law. Virtual roadshow today-tomorrow (investor call at 12:30pm UKT today). UOP: to fund the tender offer for up to GBP250m of its GBP400m 3.625% sr sec notes due 07/15/25 GCP (98.00 purchase price, HSBC/BNP/BofA dealer managers) Biz: leading limited assortment discount retailer in the UK with a growing presence in France. HQ: Luxembourg/Liverpool, UK.