Commentary & Deal Flow

CEME SpA (CEMEIT) EUR360m sr sec FRN due 2031 (7y). NC1 (MWC B+50bp) (par). Expect B2/B/B (stable/stable/stable). Via GS (B&D)/UniCredit jt phys books/Natixis jt glocos/BPER/DB/IMI jt books. No reg rights. List Lux. NY law. COC at 101. Roadshow (small group meetings) 09/17-18 (investor call 2:30pm UKT 09/16). Pricing late 09/16 week. UOP: repay CEME's debt, repay existing debt of Fluid Control, repay equity bridge related to the acquisition of Fluid Control. Equity sponsor: Investindustrial. Biz: manufacturer of solenoid pumps and valves serving the coffee and other end markets. HQ: Trivolzio (Pavia), Italy.

NetRoadshow: https://www.netroadshow.com/ev...;confId=71266