by Stephen Carter
May 14, 2024 2:31 PM ET
Lottomatica SpA (GAMENT) EUR900m 144A/Reg S sr sec FRN/fixed two-part. Ba3/BB- (stable/stable). Via DB (B&D) sole physical books/Barc/JPM/UniCredit jt glocos/BNP/GS jt books, Apollo as co-manager. No reg rights. List Lux. NY law. Settles 05/29 (T+10).
- EUR400m FRN due 06/01/31 (7y). NC1 (MWC B+50bp), then at 100. Floats/pays quarterly 3mE (0% floor). Reg S ISIN: XS2824640713. Price talk: 3mE+325-350bp at par. Final terms: EUR400m 3mE+325bp at par. Priced: 3mE+325bp at 100.
- EUR500m fixed-rate notes due 06/01/30 (6y). NC2 (MWC B+50bp), then at 102.6875, 101.3437, 100. Special call 10% per year the first 3 years at 103.00. Reg S ISIN: XS2824643220. Price talk: 5.50% area (+/- 12.5bp) at par. Final terms: EUR500m at 5.375% at par. Priced: 5.375% at 100. +291bp vs DBR 0.00% 08/15/30.
Roadshow 05/13-14 (investor call at 10:30am UKT 05/13). Books closed at 1:30pm UKT today. Reconfirms were due by 3pm UKT today. UOP: refinance its EUR350m 9.75% sr sec notes due 09/30/27 (MWC T+50bp for 90%, at 103 for 10%) and EUR550m FRN due 06/01/28 (callable 06/01/24 at 100). Equity sponsor: Apollo (57.4%). Biz: leading gaming operator in Italy across all verticals. HQ: Rome, Italy.