Related Issuers
by Stephen Carter
Mar 20, 2024 1:52 PM ET
CT Investment GmbH (CBR Fashion Group) (CBRSER) EUR470m 144A/reg S sr sec 1st lien notes due 04/15/30 (6y). NC2 (MWC B+50bp), then at 103.188, 101.594, 100. Equity claw: 2y 40% at 106.375. Special call: 10% per year the first 2 years at 103.00. B2/B+ (positive/stable). Via JPM (B&D) gloco and physical books/Apollo/DB/GS/Jefferies/UniCredit jt books. No reg rights. List ISE. NY law. Settles 04/05 (T+10). Reg S ISIN: XS2792575453. IPT: 6.75%-7.00%. Px talk: 6.50%-6.75%. Final price : 6.375%.
Priced : 6.375% at 100. +396bp vs DBR 2.1% 11/15/29.
Roadshow started Monday (investor call at 11am UKT Monday). Books closed at 1:30pm UKT today. Reconfirms were due by 2:45pm UKT today. . 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.