Related Issuers
by Stephen Carter
Mar 19, 2024 9:18 AM ET
CT Investment GmbH (CBR Fashion Group) (CBRSER) EUR470m 144A/reg S sr sec 1st lien notes due 2030 (6y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103.00. (Existing B2)/B+ (--/stable). Via JPM (B&D) gloco and physical books/Apollo/DB/GS/Jefferies/UniCredit jt books. No reg rights. List ISE. NY law.
IPT: 6.75%-7.00%.
Roadshow started yesterday (investor call at 11am UKT yesterday). UOP: along with EUR12m cash on hand, to redeem its EUR470m 5.50% 1st lien notes due 104/15/26 (callable at 101.375 on 04/15/24). Equity sponsor: Alteri (Apollo). Biz: leading women's mainstream fashion company with operations in 20 countries across Europe, including core markets Germany, Austria, Switzerland, Belgium and the Netherlands. HQ: Isernhagen, Germany.
S&P also upgraded the long-term issuer credit rating and existing sr sec 1st lien notes to B+ from B.