Commentary & Deal Flow

Takko Fashion GmbH (TAKFAS) EUR350m 144A/Reg S sr sec notes due 2030 (5.5y). NC2 (50%,,25%,par). Expect B3/B-/BB- (stable/stable/stable). Via DB (B&D)/UniCredit jt physical books/GS jt books. No reg rights. List ISE. NY law. CoC at 101. Roadshow (virtual) 10/24-25 (Investor call at 2pm 10/24). Pricing early 10/28 week. UOP: repay debt. Biz: leading European quality discounter in fashion retail. HQ: Telgte, Germany.

RSP & Red OM Link: FINAL LINK: www.netroadshow.com/nrs/home/#!/?show=8f1275ca, Deal entry code: TAKKO24.

Investor call: https://www.netroadshow.com/events/login?show=814a52aa&confId=72881