Related Issuers
by Stephen Carter
Jun 25, 2025 11:08 AM ET
Maxam Prill Sarl (MXPRLL) EUR1.215bn (EUR/US$) equivalent 144A/Reg S sr sec notes 2-part. NR/B+/BB- (stable/stable). Via GS (B&D) physical books/Citi/JPM/Santander jt glocos and books. No reg rights. List Dublin. NY law.
- EUR TBD due 2030 (5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. CoC at 101. Denoms: 100x1. IPT: low 6s. Price talk: 6.00% area.
- US$ TBD due 2030 (5y). NC2 (MWC T+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. CoC at 101. Denoms: 200x1. IPT: high 7s. Price talk: 7.75% area.
Did investor call at 10am NYT/3pm UKT 06/23. Books close: US$ 5pm NYT 06/25, EUR 10:30am UKT 06/26. Pricing 06/26. UOP: repay EUR749m certain loans and credit lines of its subsidiaries, fund EUR441m distribution to shareholders. Equity sponsor: Rhone (73.1m). Biz: leading global civil explosives provider.
Net roadshow link: https://www.netroadshow.com/nrs/home/#!/?show=8a09e184. Entry code: Maxam2025.