Related Issuers
by Pankti Antani
Jul 03, 2025 1:02 PM ET
Kane Bidco Limited (True Potential) (TRUEPT) GBP750m equivalent (GBP/EUR) 144A/Reg S sr sec notes 2-part. B1/B+ (stable/stable). Via GS (B&D GBP fixed)/UBS (B&D EUR FRN) jt glocos and physical books/Barc/Lloyds/NatWest/SMBC jt books. No reg rights. List ISE. NY law. Settles 07/10 (T+4).
- GBP405m (from GBP400-450m, and GBP400m minimum) fixed rate notes due 07/15/31 (6y). NC2 (07/15/27)(MWC G+50bp) then at 103.8750, 101.9375, 100. Equity claw: 2y 40% at 107.75. Special call: 10% per year the 1st 2 years at 103. CoC at 101. Pays January 15 and July 15, starting 01/15/26. Denoms: 100x1. 144A ISIN: XS3112620417. IPT: low 8s at par. Price talk: 8% area at par. Final price talk: 7.75%-7.875% at par WPIR. Priced: 7.75% at 100. +376bp vs UKT 0.25% 07/31/31.
- EUR400m (from EUR350m-400m, and EUR350m minimum) FRN due 07/15/32 (7y). NC1 (07/15/26) (MWC B+50bp), then at 100. CoC at 101. Pays January 15, April 15, July 15, October 15, starting 10/15/25. Denoms: 100x1. 144A ISIN: XS3112620920. IPT: E+low 400s at par. Price talk: E+400bp area at par. Final price talk: E+375bp-387.5bp at par WPIR. Priced: 3mE+375bp (0 floor) at 100.
Roadshow (small group meetings) 06/30-07/01 (investor call at 10:30am UKT 06/30). Books closed at 2pm UKT (from 11:30am UKT) 07/03. UOP: Along with GBP25m cash on hand, to refinance its existing GBP400m 6.50% sr sec notes due 02/15/27 (callable at 101.625), EUR360m 5.00% sr sec notes due 02/15/27 (callable at 101.25) and GBP50m private placement notes. Equity sponsor: Cinven. Biz: leading provider of advisory services, wealth management and investment strategies to its clients through its in-house purpose-built proprietary technology platform. HQ: Newcastle, UK.
Netroadshow direct link: https://urldefense.com/v3/__https:/www.netroadshow.com/nrs/home/*!/?show=341dae56__;Iw!!O2kDR7mm-zSJ!voDWSl7GjeTETSCPDHYUvx-LsRnos33GhOJJHR2MFBcPcGFuhhv3hw5QfEw4g_G5z8je__ZqvF0o0bi3OW6EWGVD2vMS75J1$. Access code: CHESS25.