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by Stephen Carter
Feb 07, 2024 6:01 AM ET
EM/HY WE Soda Investments Holding Plc (WESODA) US$500m maximum 144A/Reg S sr sec notes due 02/14/31 (7y). NC3 (MWC T+50bp) (50%,25%,par). Equity claw: 3y. NR/BB-/BB- (--/positive/stable). Via BNP/GS (B&D)/JPM jt glocos/DB/Emirates NBD/MUFG/ PNC/Bank of China jt books. No reg rights. List ISE. NY law. Semi pay (30/360). Settles 02/14 (T+5). Reg S ISIN: USG95448AC32.
Px talk: 9.75% area.
Did global Investor call at 9:30am UKT Mon, along with a series of fixed income investor calls also on Mon. Books are open. Pricing today. UOP: refinance WE Soda’s existing debt. Biz: the world's largest producer of natural soda ash with one of the lowest cash costs of production globally (operations are in Turkey, but it exports globally). HQ: London, UK.