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by Stephen Carter
Jun 26, 2025 5:49 AM ET
BCP V Modular Services Finance II Plc (Modulaire Group) (MODULA) EUR500m minimum 144A/Reg S sr sec notes due July 2031 (6y). NC2 (50%,25%,par). Expect B2/B/B+ (negative/negative/stable). Via JPM (B&D)/MS jt glocos/BofA jt physical books; GS/Santander/WFS/HSBC/ING/SocGen/Brookfield jt books. No reg rights. List ISE. NY law.
IPT: mid 6s.
Investor call at 12pm UKT 06/26. UOP: along with a EUR1bn minimum term loan B for a total capital raise of EUR1.9bn, to refinance the existing EUR1.8bn term loan B an partially pay down its revolver. Equity sponsor: Brookfield Business Partners and other institutional partners. Biz: provides modular, office, remote accommodations, portable storage and other infrastructure services in Europe, Australia, New Zealand and China. HQ: London.
Netroadshow direct link: http://www.netroadshow.com/nrs/home/#!/?show=0b0f1fe3. Entry code: MGSL025.