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by Stephen Carter
Jun 10, 2025 5:23 AM ET
Mehilainen Yhtiot Oy (AMBEAA) EUR1.09bn sr sec notes two-part. Expect B2/B/B (stable/stable/stable). Via GS (B&D)/Barc/Jefferies jt glocos/CVC/Danske/Nordea/RBI/SMBC/UniCredit/MUFG jt books. No reg rights. List ISE. NY law. SMR at 100 if the acquisitions have not closed by 06/30/26.
- EUR TBD sr sec FRN due 2032 (7y). NC1 (MWC B+50bp), then at 100. Equity claw: 1y 40%. CoC at 101. IPT: E+375-400bp at par.
- EUR TBD sr sec fixed-rate notes due 2032 (7y). NC3 (MWC B+50bp) (50%,25%,par). Equity claw: 3y 40%. Special call: 10% per year the 1st 3 years at 103. CoC at 101. IPT: 5.50%-5.75%.
Did investor call 10am UKT 06/09. Pricing mid 06/09 week. UOP: to finance the acquisition of Regina Maria (EUR691m cash and EUR292m repayment of Maria debt) and its sister company MediGroup (EUR89m cash) and EUR224m cash to the B/S. Also an additional equity contribution of up to EUR250m provided by CVC. Equity sponsors: CVC and Hellman & Friedman (CVC and H&F have agreed to purchase shares of the parent company (TopCo) for total cash of EUR2bn on the acquisition closing date which will give CVC an approx 50% economic equity of TopCo and H&F an approx 30% economic equity of TopCo). Biz: provider of high quality and customer centric healthcare and social care services to the Finnish population and in increasing scale internationally, including Germany, Sweden, Estonia and Lithuania. HQ: Helsinki, Finland. (Acquisition announced 03/29/2025).
Netroadshow direct link: https://urldefense.com/v3/__https:/www.netroadshow.com/nrs/home/*!/?show=885cf08c__;Iw!!O2kDR7mm-zSJ!qa1pGC93H1dkwxSkdBzwRuw-qvDMOq8lGkSqbal5IxlkwJZHYQOLY0E_DWyJFmG9E8T-EhXVZIskoXRoAg$. Entry code: MEH2025.