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by Stephen Carter
Jan 29, 2025 5:24 AM ET
Engineering Ingegneria Informatica SpA (formerly Centurion Bidco SpA) (ENGIM) EUR650m 144A/Reg S sr sec notes 2-part. B3/(expect B-)/B (stable/--/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. IPT: 9.00%-9.25%. Price talk: 8.75%-9.00%.
- EUR300m minimum sr sec FRN due 2030 (5y). NC1 (MWC B+50bp), then at 101, par. IPT: E+600-625bp, 0% floor, at 99.50. Price talk: E+575-600bp, 0% floor, at 99.50.
Roadshow (small group meetings): 01/27-29 (investor call 11am UKT 01/27). Books close at 12:30pm UKT 01/29. Pricing 01/29 UK afternoon. 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 (49.7%) and Neuberger Berman (49.7%). 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).