Related Parents
Related Issuers
by Stephen Carter
Sep 25, 2024 9:37 AM ET
APCOA Group GmbH (APPARK) EUR685m 144A/Reg S fixed/floating sr sec notes 2-part. B3/B (stable/stable). Via GS (B&D)/Barc/JPM jt glocos and physical books/MS/NatWest/Santander jt books. No reg rights. List ISE. NY law. NY law. Tranche split TBD.
- EUR TBD (EUR300m minimum) fixed rate notes due 2031 (6.5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. IPT: 6.50%-6.75%. Price talk: 6.25%-6.50%. Final price talk: 6.00%-6.25% (WPIR).
- EUR TBD (EUR300m minimum) FRN due 2031 (6.5y). NC1 (MWC B+50bp) (par). IPT: E+425-450bp at par. Price talk: E+425-450bp at par. Final price talk: E+412.5-425bp at par (WPIR).
Roadshow - small group meetings 09/23-24 (investor call at 11:30am UKT 09/23). Books closed at 2pm UKT 09/25. Reconfirms due by 3:15pm UKT 09/25. Pricing 09/25 UK afternoon. UOP: along with EUR10m cash on hand, to redeem in full its EUR365m sr sec FRN due 01/15/27 (callable at 100), and tender for its EUR320m 4.625% sr sec notes due 01/15/27 (callable at 101.156). Equity sponsor: Strategic Value Partners. Biz: a leading pan European parking infrastructure operator and services provider. HQ: Stuttgart, Germany.
Netroadshow link: https://www.netroadshow.com/nrs/home/#!/?show=c8843fa9. Entry code: Apcoa-2024.