Commentary & Deal Flow

Aragvi Finance International DAC (Trans-Oil Group) (ARAGVI) US$100m Reg S only, Cat 1 tap of its 11.125% sr sec gtd notes due 11/20/29 (4.75y). NC1.75 (11/20/26) (MWC T+50bp), then at 105.563, 102.781, 100. Equity claw: 1.75y 40% at 111.125. NR/B/B+ (stable/stable). Via Citi (B&D)/ING/Oppco jt glocos/RBI/UniCredit jt books.List Vienna. English law. Settles 03/20 (T+7). Immediately fungible with the original US$550m notes (XS2932787687. IPT: 101.50 area. Terms set: $100m at 102.00.

Price: 11.125% tap at 102.00, 10.444% YTW.

Did investor calls 03/10. Books subject at 12:45pm UKT / 8:45am NYT 03/11. Pricing 03/11. Books over $300m (excluding JLM interest). UOP: capex projects (no more than US$10m) and refinance certain current trade financing facilities. Biz: a leading agro-industrial holding in Central and Eastern Europe, operating in Moldova, Romania and Serbia.

 An investor presentation and Preliminary Offering Memorandum are available on https://www.netroadshow.com/nrs/home/#!/?show=e3269aba