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Commentary & Deal Flow

IPT: SIG Combibloc E1bn sr notes, 3NCL 2%a, 5NCL 2.25%a

HYC European Market: Deal Flow - General

SIG Combibloc PurchaseCo Sarl (SIG-SE/SIGCBL) EUR1bn 144A/Reg S sr notes 2-part. Ba2/BBB- (stable/stable) (AA by MSCI, 18.8 - Low Risk by Sustainalytics and Platinum by EcoVadis (all ESG Ratings). Via GS/UBS/UniCredit as jgc/CS joint books. No reg rights. List Euronext Dublin. NY law. Settles 06/18.

    - approx EUR500m due 06/18/23 (3y). NCL (MWC B+50, 3mo par call). IPT 2% area.

    - approx EUR500m due 06/18/25 (5y). NCL (MWC B+50bp, 3mo par call). IPT 2.25% area.

A virtual roadshow began Mon 06/08. UOP: refinance capital structure (along with $550m term loan and $14m cash on hand, to repay its existing EUR1.553 term loan (EUR1.203 term loan A and $350m term loan B). Biz: SIG Combibloc Group AG is a leading systems and solutions provider for aseptic carton packaging, HQ: Neuhausen Am Rheinfall, Switzerland.