Related Issuers
by Stephen Carter
Jul 07, 2025 6:59 AM ET
Market Bidco Finco Plc (Morrisons) (MRWLN) GBP800m equivalent (EUR/GBP) 144A/Reg S sr sec notes 2-part. (Expect B1/B+)/BB- (stable/stable/positive). Via BNP (GBP B&D)/GS (EUR B&D) jt physical books/BofA jt glocos/Mizuho/Rabo/NatWest/Lloyds/HSBC/SocGen/Santander/RBC/ING/DB/MUFG/SMBC jt books. No reg rights. List ISE. NY law. Settles T+5.
- GBP TBD due 2031 (5.5y). NC2 (50%,25%,par). CoC at 101. Denoms: 100x1.
- EUR TBD due 2031 (5.5y). NC2 (50%,25%,par). CoC at 101. Denoms: 100x1.
Roadshow (1-on-1s) 07/07-07/08 (investor call at 1pm 07/07). UOP: along with GBP174m cash on hand, to partially refinance/tender for its existing GBP/EUR sr sec notes (EUR545m 4.75% sr sec notes due 11/04/27 (callable at 102.375) and GBP823m 5.50% sr sec notes due 11/04/27 (callable at 102.75)). Equity sponsor: CD&R. Biz: one of the full line UK supermarkets and operates as a vertically integrated food retailer, manufacturer, distributor and wholesaler across the United Kingdom with a focus on food and grocery. HQ: Bradford, UK.
Deal Roadshow direct link: https://dealroadshow.com/e/MORRISONS25 (Access code: MORRISONS25).