Commentary & Deal Flow

Neinor Homes SA (HOMESM) EUR300m 144A/Reg S green sr sec notes due 2029 (5.25y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. --/--/BB- (--/--/stable). Via JPM (B&D)/SocGen/Santander jt physical books jt glocos/BBVA/DB/Kutxabank Investment jt books. No reg rights. List Dublin. NY law. IPT: mid-high 6s.

Price talk: 6.25%-6.50%.

Roadshow (small group meetings) 10/29-31 (Investor call at 2:30pm UKT 10/29). Books close at 2pm 10/31. Pricing 10/31 UK afternoon. UOP: refinance EUR175m corporate loan, GCP, including land bank acquisitions, further co-investments

GIC registration link: https://www.netroadshow.com/events/login?show=4dedf556&confId=73023

https://www.netroadshow.com/nrs/home/#!/?show=8f9802ec, entry code: NH2024