Commentary & Deal Flow

+++Adds full maturity date+++

Metlen Energy & Metals SA (MYTIL) EUR750m (up from EUR500m) exp Reg S green sr unsec notes due 10/17/29 (5y). NCL (MWC B+30bp) (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). ISIN: XS2920504292. IPT: 4.50% area. Guidance: 4.125% area yield. Guidance: 4.125% area yield. Final terms: EUR750m at 4.00% yield.

Priced: 4.00% at 100, ms+160.2bp. +187.0bbp vs OBL 2.50% 10/11/29.

Fixed income investor calls started 10/07. Books went subject at 12:45pm UKT 10/09. Final book size over EUR1.9bn ex-JLM (from over EUR2.4bn (good at guidance, pre-rec, ex-JLM), 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), and GCP (EUR250m upsize for GCP). 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.