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by Stephen Carter
Jan 29, 2025 9:08 AM ET
OVH Groupe SA (OVHcloud) (OVH) EUR500m (up from EUR470m) Reg S only sr notes due 2031 (6y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Ba3/BB- (stable/stable). Via BNP (B&D)/JPM jt physical books/CA/HSBC/Natixis jt passive books, La Banque Postale, Scotia as co-managers. List Lux. NY law. CoC at 101. Settles T+5. IPT: 5.25%-5.50%. EUR30m upsize for cash on the B/S. Price talk: 5.00% area (+/- 12.5bp).
Final price talk: 4.75%-4.875% (WPIR).
Roadshow 01/27-29 (investor call at 10am UKT 01/27). Books closed 1:30pm UKT 01/29. Reconfirms due 2:30pm UKT 01/29. Pricing 01/29 UK afternoon. UOP: along with a new EUR450m term loan, to refi EUR500m of existing term loan, EUR350m to fund share buyback, and EUR68m (up from EUR38m) for GCP (EUR30m upsize for GCP). Principal shareholder: the Klaba Family (81.3%). Biz: leading independent Europe-based cloud services provider. HQ: Roubaix, France.
Evercall GIC registration link: https://evercall.co/oacc/86969.
Deal Roadshow link: https://dealroadshow.com/e/OME... (access code: OMEGA25).