Related Issuers
by Stephen Carter
Jun 24, 2025 10:10 AM ET
Kepler SpA (Biofarma Group) (BIOFSP) EUR500m 144A/Reg S sr sec FRN due 12/18/29 (4.5y). NC1 (MWC B+50bp), then at par. B3/B-/B (stable/stable/stable). Via BNP (B&D)/ING/Jefferies/SMBC Nikko jt glocos/IMI/KKR/Natixis/Nomura jt books. No reg rights. List Lux. NY law. CoC at 101. Denoms: 100x1. IPT: low-to-mid 4s at par.
Price talk: E+425bp area (+/-12.5bp) at par.
Roadshow (Q&A sessions) 06/23-24 (investor call at 11:30am UKT 06/23). Books cloe at 10am UKT 06/25. Pricing 06/25 UK afternoon. UOP: repay existing EUR345m sr sec FRN due 05/15/29 (callable at 100), pay down EUR40m revolver, repay other debt (EUR101m equivalent EUR/US$ private placement notes), and GCP. Equity sponsor: Ardian. Biz: leading nutraceutical CDMO (develops, manufactures and packages supplements, medical devises, probiotic-based drugs and cosmetics, exclusively for third parties). HQ: Mereto di Tomba, Italy.
Deal Roadshow direct link: https://dealroadshow.com/e/BIOFARMA2025. Entry code: BIOFARMA2025.