Commentary & Deal Flow

Rino Mastrotto Group SpA (RINOMS) EUR320m 144A/Reg S sr sec FRN due 2031 (7y). NC1 (MWC B+50bp). B2/B/BB- (stable/stable/stable). Via BNP (B&D) physical books/IMI jt glocos/UniCredit jt books. No reg rights. List Lux. NY law. CoC at 101. Settles T+7. Reg S ISIN: XS2850686903. IPT: E+475-500bp at 98.50. Price talk: E+475bp at 99.00-99.50.

Final terms: EUR320m E+475bp at 99.50. 

Did investor call at 2pm UKT 07/08, 1-on-1s 07/09-10. Books closed at 2:30pm UKT 07/11. Pricing 07/11 UK afternoon. UOP: repay existing EUR186m bank debt, fund a EUR124m distribution to shareholders. Equity sponsor: Neuberger Berman Renaissance (70%). Biz: leading supplier of high-quality leather and textile materials, for luxury and premium clients across the luxury fashion, automotive and interior design industries. HQ: Trissino, Italy. Evercall investor call link: https://evercall.co/oacc/82500, Deal Roadshow: https://dealroadshow.com/e/RMG...