Related Issuers
by Stephen Carter
May 08, 2024 10:39 AM ET
CPUK Finance Limited (Center Parcs) (CPKLN) GBP330m Reg S class B7 fixed-rate secured notes due 08/28/29 (5.25y). NC2 (MWC G+50bp) (50%,25%,par). Equity claw: 2y 40% at 107.875. Special call: 10% per year the first 2 years at 103. NR/B/B (--/--/stable). Via Barc (B&D) sole physical books/HSBC/NatWest jt glocos and jt books. List ISE. English law. Settles 05/17. ISIN: XS2818818507. IPT: 8.00%-8.25%. Px talk: 8.00% area (+/- 12.50bp).
Priced: 7.875% at 100. +378bp vs UKT 4.125% 07/22/29.
Roadshow yesterday-today (investor call at 1:30pm UKT yesterday). Books closed at 1:15pm UKT today. UOP: redeem its GBP250m 4.875% class B4 notes due 08/28/25 (callable at 100), and fund a GBP73m shareholder distribution. Equity sponsor: Brookfield Asset Management. Biz: Leading short-break holiday provider in the UK (Center Parcs). HQ: New Ollerton, Newark, Nottinghamshire, UK.