by Stephen Carter
Dec 03, 2024 7:59 AM ET
Flos B&B Italia SpA (fka Intl Design Group) (INTDGP) EUR530m (up from EUR470m) 144A/Reg S sr sec FRN due 2029 (5y). NC1 (MWC B+50bp) (then par). B2/(expect B)/B (stable/stable/stable). Via BofA/JPM (B&D) jt physical books/GS/UniCredit/UBS jt glocos/DNB/HSBC/Natixis jt books. No reg rights. List Lux. NY law. CoC at 101. IPT: E+400-425bp at par. EUR60m upsize to fund a 10% call at 103 on its sr sec notes due 2028 and GCP.
Price talk E+400bp area (+/- 12.5bp) at par.
Roadshow (small group meetings) 12/02-03 (investor call at 10am UKT 12/02). Books close at 3:30pm UKT 12/03. Pricing 12/03 UK afternoon. UOP: along with cash on hand, to redeem its existing EUR470m FRNs due 05/15/26 (callable at 100) (EUR60m upsize to fund a 10% call at 103 on its sr sec notes due 2028 and GCP). Equity sponsors: Carlyle (50%) and Investindustrial (50%). Biz: Leading global design company in the high-end furniture and lighting markets. HQ: Milan, Italy.
Investor call link: https://www.netroadshow.com/events/login?show=f3ffcbfa&confId=74874; Net Roadshow (Link): https://www.netroadshow.com/nrs/home/#!/?show=b5cd369d; Deal entry code: FlosBB2024 (not case-sensitive).