by Stephen Carter
Sep 30, 2024 7:40 AM ET
IHO Verwaltungs GmbH (IHOVER) up to EUR2.2bn equivalent (EUR/US$) 144A/Reg S sustainability-linked sr sec PIK toggle notes four-part. Expect Ba2/BB-/BB. Via DB sole EUR physical books/Citi sole US$ physical books/BNP/BofA jt books. No reg rights. List Lux. NY law. CoC at 101.
- EUR400m minimum due 2029 (5y). N2 (50%,25%,par).
- EUR400m minimum due 2031 (7y). NC3 (50%,25%,par).
- US$400m minimum due 2030 (6y). NC2 (50%,25%,par). IPT: mid 7s.
- US$400m minimum due 2032 (8y). NC3 (50%,25%,par). IPT: high 7s.
Roadshow 09/30-10/01 (small group meetings) (investor call at 3pm UKT 09/20). UOP: along with cash on hand and the close-out of cross-currency hedges on certain of the redeemed notes, to re redeem the Existing 2026 Euro Notes, the Existing 2026 Dollar Notes, the Existing 2027 Euro Notes and the Existing 2027 Dollar Notes in full. Biz: Holding and finance company owned by the Schaeffler family (owner ship interests include auto parts manufacturers IHO Holdings Schaeffler AG, 46% owner of Continental AG, and Vitesco Technologies AG). HQ: Herzogenaurach, Germany. NetRoadshow: https://www.netroadshow.com/ev...;confId=71685. (Code: IHO2024).