Commentary & Deal Flow

Private placement priced yesterday: APCOA Group GmbH (APPARK) EUR125m Reg S add-on to its 6.00% sr sec note due 04/15/31 (5.75y). NC1.25 (10/15/26) (MWC B+50bp), then at 103.00, 101.50, 100. Equity claw: 1.25y 40% at 106.00. Special call: 10% per year the first 1.25 years at 103. B3/B (stable/stable). Via GS sole placement agent. No reg rights. List ISE. NY law. NY law. CoC at 101. Trade date 06/26. Settles 07/11 (T+10). Reg S ISIN: XS2911131253. Will be fungible with the original EUR300m issue that priced 09/25/24.

Priced: 6.00% add-on at 100.625. 

UOP: dividend to shareholders. Equity sponsor: Strategic Value Partners. Biz: a leading pan European parking infrastructure operator and services provider. HQ: Stuttgart, Germany.