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by Stephen Carter
Jul 04, 2024 1:13 PM ET
Mangrove LuxCo III Sarl (Kelvion) (MANGRV) EUR475m (up from EUR425m) sr sec FRN due 07/15/29 (5y). NC1 (07/18/25) (MWC B+50bp), then at 100. B3/B (positive/stable). Via DB (B&D)/JPM jt physical books/Commerz/ING/NatWest/UniCredit jt glocos and books. No reg rights. NY law. List ISE. CoC at 101. Qrtly pay starts 10/15/24. Settles 07/18 (T+10). Reg S ISIN: XS2852974153. IPT: 3mE+525bp (0% floor) at 98.00-98.50. Price talk: 3mE+525bp (0% floor) at 98.50-99.00. EUR50m upsize to support a partial redemption of TPECs. Revised price talk: 3mE+500-525bp (0% floor) at 99.00.
Priced: 3mE+500bp (0% floor) at 99.00.
Roadshow 07/02-04 (investor call at 11am UKT 07/02). Books closed at 12:30pm UKT 07/04. Recommitments were due 2:45pm UKT 07/04. Pricing 07/04 UK afternoon. UOP: redeem its existing EUR371.8m 7.75% gtd sr sec notes due 10/09/25 in full, and EUR36.7m for GCP, including EMEA footprint alignment and capex ($50m upsize to support a partial redemption of TPECs). Equity sponsor: Triton Partners. Biz: A leading global provider of mission critical heat exchanger solutions with diversified presence across EMEA, Americas and APAC. HQ: Herne, Germany. NetRoadshow / GIC Registration: https://www.netroadshow.com/ev...;confId=67817