Commentary & Deal Flow

Sunrise FinCo I BV (SUNN) EUR550m 144A/Reg S sr sec notes due 05/15/32 (7y). NC3 (MWC B+50bp) (05/15/28), then at 102.313, 101.156, 100. B1/BB-/BB+ (positive/stable/positive). Via JPM (B&D)/Citi jt physical books/BofA/BNP/MS/UBS jt books. No reg rights. List ISE. NY law. CoC at 101. Settles 05/28 (T+4). Reg S ISIN: XS3082828560. IPT 5% area. Price talk: 4.75% area.

Priced: 4.625% at 100. +227bp vs DBR 0% 02/15/32.

Did investor call at 10am UKT 05/23. Books closed at 3:30pm UKT 05/21. UOP: Refinance in full the existing EUR Term Loans AU & AY and in part the existing USD Term Loan AT. Biz: a sub of Sunrise Communications AG, a leading provider of video, broadband internet, fixed line telephony and mobile communications services to residential customers and businesses in Switzerland. HQ: Opfikon, Switzerland.