by Stephen Carter
Jan 11, 2024 11:31 AM ET
Fiber Bidco SpA (Fedrigoni) (FEDRIG) EUR665m 144A/Reg S sr sec FRN due 01/15/30 (6y). NC1 (01/22/25) (MWC), then at 101, 100. B2/B/BB- (stable/negative/stable). Via GS (physical books)/Nomura/UniCredit jt glocos/BNP/BPER/IMI/Mizuho/BMPS/MS/Santander jt books. No reg rights. List Lux. NY law. Pays Quarterly March 31, June 30, Sept 30 Dec 31, starting 03/31/24. Settles 01/22 (T+7). Reg S ISIN: XS2748964850. IPT: E+425-450bp, 0% floor, 99.50 OID. Px talk: E+400-425bp, 0% floor, at 100.
Priced: 3mE+400bp, 0% floor, at 100.
Roadshow began Tues (investor call at 11am UKT Tues). Books closed 2pm UKT today. (Originally pricing Fri). UOP: along with EUR81m of a recent EUR272m sale leaseback transaction and EUR4m cash on hand, to redeem its existing EUR735m sr sec FRN due 10/25/27 (callable at 101). Equity sponsors: Bain (46.3%) and BC Partners (46.3%). Biz: supplier of premium sustainable customized packaging. HQ: Verona, Italy.