Related Issuers
by Stephen Carter
Jun 26, 2025 7:39 AM ET
Techem Verwaltunsgesellschaft 675 mbH (Techem) (TCHEN) EUR1.15bn (up from EUR1bn) 144A/Reg S sr sec notes 2-part. B2/B+/B+ (stable/stable/stable). Via GS (B&D) sole gloco and physical books/BNP/Commerz/CA/DB/JPM/Natixis/SMBC/UniCredit jt books. No reg rights. List ISE. NY law.
- EUR TBD (EUR300m minimum) sr sec FRN due 2032 (7y). NC1 (MWC B+50bp) (par). CoC at 101. Denoms: 100x1. IPT: E+mid-to-high 300s at par. Price talk: E+325-350bp at par. Revised price talk: E+300-312.5bp at par WPIR.
- EUR TBD (EUR300m minimum) sr sec fixed rate notes due 2032 (7y). NC3 (MWC B+50bp) (50%,25%,par). IPO call: 3y for up to 100% at 102. Equity claw: 3y 40%. Special call: 10% per year the first 3 years at 103. CoC at 101. Denoms: 100x1. IPT: low-to-mid 5s. Price talk: 5% area. Revised price talk: 4.625%-4.75% WPIR.
EUR150m upsize to fund additional shareholder distribution. Did investor call at 11am UKT 06/24. Books closed at 11am UKT 06/26. Reconfims due by 2:30pm UKT 06/26. Pricing 06/26 UK afternoon. UOP: along with EUR92m cash on hand, to redeem its EUR363.9m 6.00% sr sec notes du 07/30/26 (callable at 100), fund EUR874m (up from EUR724m) distribution to shareholders. Equity sponsors: Partners Group (60%), CDPQ (25%), OTPP (16%). Biz: a leading global energy management and services provider (energy and water metering) to the real estate sector and private homeowners. HQ: Eschborn, Germany.
Netroadshow direct link: https://urldefense.com/v3/__https:/www.netroadshow.com/nrs/home/*!/?show=15af91be__;Iw!!O2kDR7mm-zSJ!rMfhimXroFfeCZgQ8vdSM7106FnH9_YdBiFs7LLuElssHf9LHlX2j0fW_y-YTWKqCRx_GctznfkCuw8$