Related Issuers
by Stephen Carter
Sep 25, 2024 4:13 PM ET
Dynamo NewCo II GmbH (Innomotics) (DYNNEW) EUR600m 144A/Reg S sr sec notes due 10/15/31 (7y). NC3 (10/15/27) (MWC B+50bp), then at 103.25, 101.563, 100. Equity claw: 3y 40% at 106.25. Special call: 10% per year, the first 3 years at 103. B2/B/B+ (stable/stable/positive). Via Barc (B&D) physical books/Citi/UBS/StanChart/UniCredit/IMI/MUFG/GS/MS/RBI jt books. No reg rights. List ISE. NY law. CoC at 101. Settles 09/30 (T+3). Reg S ISIN: XS2910523716. IPT: mid-high 6s. Price talk: 6.25%-6.50%.
Priced: 6.25% at 100+426bp vs DBR 0% 08/15/31.
Roadshow 09/23-24 (investor call 10am UKT 09/23). Books closed at 3pm UKT 09/25. Allocations post market close, FTT 09/26 UK am. UOP: EUR1.8bn total debt financing, including EUR700m (up from EUR600m) and USD560m (EUR500m equivalent (down from EUR600m)) term loan B, to fund the LBO of Innomotics by KPS Capital from Siemens AG for EUR3.5bn. EUR1.835bn equity contribution. Biz: leading global manufacturer of low to high voltage motors, medium voltage drive systems for industrial applications, and related services. HQ: Nuremburg, Germany. (Acquisition announced 05/16/2024).
NetRoadshow/GIC Registration: https://www.netroadshow.com/ev...;confId=71420