Commentary & Deal Flow

Arqiva Broadcast Finance plc (ARQIVA) GBP500m Reg S only sr sec notes due 2030 (5y). NC2 (MWC G+50bp) (50%,25%,par). B1/B (stable/stable). Via HSBC (B&D)/Lloyds/Santander jt glocos and books. List LSE. English law. CoC at 101. Denoms: 100x1.

IPT: 9.00% area. 

Roadshow (in-person) 06/23-24 (investor call at 12pm UKT 06/23). UOP: repay GBP450m jr bank facility due March 2028, EUR5m related interest rate hedging, EUR 11m accrued interest, and EUR25m cash on the B/S. Biz: the UK's sole national provider of television and radio broadcast infrastructure, providing mission-critical end-to-end connectivity in media and utility industries. HQ: Crawley, UK.

Deal Roadshow direct link: https://dealroadshow.com/e/ARQIVA25