Commentary & Deal Flow

Metlen Energy & Metals SA (MYTIL) EUR750m (up from EUR500m) exp Reg S green sr unsec notes due 2029 (5y). NCL (MWC) (3mo par call) (80% clean up call). Expect NR/BB+/BB+ (stable/stable). Via BNP/Citi (B&D)/HSBC jt glocos and physical books/Alpha Bank/BofA/DB/Eurobank/GS/IMI/MS/Natl Bank of Greece/Nomura/Piraeus Bank/SocGen/UniCredit jt books. Citi is Sole Green Structuring Bank. HSBC coordinated roadshow logistics. List Lux. NY law. Annual pay (Act/Act). Settles 10/17 (T+6). IPT: 4.50% area. Guidance: 4.125% area yield. Guidance: 4.125% area yield.

Final terms: EUR750m at 4.00% yield.

Fixed income investor calls started 10/07. Books subject at 12:45pm UKT 10/09. Pricing 10/09 UK afternoon. Book size over EUR2.4bn (good at guidance, pre-rec, ex-JLM) (from over EUR2.4bn pre-rec, ex-JLM, and over EUR1.5bn ex-JLM). Run off the IG desk. UOP: redeem its EUR500m 2.5% notes due 2024 issued by Mytilineos Financial Partners S.A (callable at 100) (ISIN: XS2010038144). An amount equivalent to the net proceeds will be used to finance or refinance, in whole or in part, Eligible Green Projects in accordance with the Company’s Green Finance Framework. Biz: a leading global energy and industrial company. It is involved in power generation, electricity retail, construction of renewables (mostly solar plants and wind plants), aluminum production, infrastructure projects construction and concessions (primarily in Greece). HQ: Athens, Greece.