Commentary & Deal Flow

+++Updates timing+++

Engineering Ingegneria Informatica SpA (formerly Centurion Bidco SpA) (ENGIM) EUR650m 144A/Reg S sr sec notes 2-part.  (Expect B3/B-)/B (--/--/stable). Via BNP (B&D fixed)/UBS (B&D FRN) jt glocos/Akros/BPM/CA/DB/IMI/GS/Normura/UniCredit jt books. No reg rights. List Lux. NY law. CoC at 101. Settles T+8.

    - EUR300m minimum sr sec fixed-rate notes due 2030 (5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103.

    - EUR300m minimum sr sec FRN due 2030 (5y). NC1 (MWC B+50bp), then at 101, par.

Roadshow (small group meetings): 01/27-29 (investor call 11am UKT 01/27). UOP: redeem its existing EUR605m 5.875% sr sec notes due 09/30/26 (callable at 100), repay its EUR38.4m term loan. Equity sponsors: Bain and Neuberger Berman. Biz: Centurion's operating sub, Engineering Engegneria Informatica, is a leading specialist provider of IT services, software development and digital platforms. HQ: Rome, Italy.

Deal Roadshow: https://urldefense.com/v3/__ht...;!!CX2e5RWqcItE!rG4fXgpmCG-QainH98g74MArB7Gl44wOHvxkoZHGBpyyllFPyFpaeJIThLA16AtEE5tlykXRO8v36W00yXGIjk6L6eo$ (access code ENGNGRP2025).