Commentary & Deal Flow

Ontex Group NV (ONTEX) EUR400m Reg S sr notes due 2030 (5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. B1/B+ (stable/positive). Via BNP/GS (B&D)/HSBC jt glocos and physical books/BBVA/Commerz/CA/ING jt books. List Lux. NY law. CoC at 101. IPT: high 5s. Px talk: 5.50%-5.75%.

Final price talk: 5.25%-5.50%.

Roadshow (small group meetings) 03/24-26 (investor call at 1:30pm UKT 03/24). Books close at 1pm UKT (from 12:30pm UKT) 03/26. Pricing 03/26 UK afternoon. UOP: fund the tender offer for up to EUR400m of its EUR580m 3.50% sr notes due 07/5/26 (EUR85m proceeds from the sale of its Brazilian operations and EUR108.5m cash on hand will be used to redeem the reminder of the notes at par on or prior to the 07/01/25 par call date). Biz: a leading provider of personal hygiene products worldwide. HQ: Aalst-Erembodegem, Belgium.

Deal Roadshow link: https://dealroadshow.com/e/OSIRIS2025