Commentary & Deal Flow

ASK Chemicals Deutschland Holding GmbH (ASKCHE) EUR325m 144A/Reg S sr sec notes due 11/15/29 (5y). NC2 (11/15/26) (MWC B+50bp), then at 105, 102.5, 100. Equity claw: 2y 40% at 110. Special call: 10% per year the first 2 years at 103. B3/B- (positive/stable). Via GS (B&D) gloco/Santander jt physical books. No reg rights. List ISE. NY law. CoC at 101. Settles 11/01 (T+6). Reg S ISIN: XS2919072962. IPT: low-to-mid 10s. Price talk: 10.00%-10.25%.

Priced: 10.00% at 100. +792bp vs DBR 2.10% 11/15/29.

Roadshow (small group meetings, Physical meetings at GS's London office and Zoom) 10/21-22 (investor call 10am 10/21). Books closed at 1pm UKT 10/24. UOP: repay EUR225m sr sec term loan B, repay EUR90m of its EUR135m parent holdco PIK notes. Equity sponsor: Rhone. Group. Biz: a leading global supplier of specialty chemicals and consumables supplying a diversified range of foundry and industrial end markets. HQ: Hilden, Germany.

GIC registration: https://www.netroadshow.com/events/login?show=0e07ef90&confId=72650

Netroadshow: https://urldefense.com/v3/__https:/www.netroadshow.com/nrs/home/*!/?show=59ff84e4__;Iw!!O2kDR7mm-zSJ!skpbw72erHYHGr6yzHSY3enbrpMS0va-H6Us55hMEIWvP_Nx8RgZJ6vTHVu8RTcMOJysuiHM_NqvgvVdfg$. Entry code: ASKCHEM2024.