Related Issuers
by Stephen Carter
Apr 30, 2024 6:05 AM ET
Pachelbel Bidco SpA/Multiversity SpA (post merger) (MLTIVR) EUR1.1bn 144A/Reg S sr sec fixed/floater notes 2-part. (Expect B2)/B (--/stable). Via MS (B&D)/GS jt glocos/BofA/DB/CVC/UniCredit/BNP/CA jt books. No reg rights. List Lux. NY law.
- EUR550m sr sec fixed rate notes due 2031 (7y). NC3 (50%,25%,par). IPT: 7.25%-7.50%.
- EUR550m sr sec FRN due 2031 (7y). NC1 (par). IPT: E+450-475bp at par.
Roadshow small group meetings 04/29-05/01 (investor call at 10am UKT 04/29). UOP: finance the transfer of Multiversity from one CVC fund to another (EUR3.970bn enterprise value), and EUR25m cash on the B/S. The existing EUR765m sr sec FRN will remain outstanding. Equity sponsor CVC and other LPs will contribute EUR2.2bn in equity. Biz: the leading university in the Italian online higher education market. HQ: Rome, Italy.