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Commentary & Deal Flow

IPT: Alstria E300 (WNG) 5NC2 sr sec notes at Low 7s, pxg tomorrow

HYC European Market: Deal Flow - General

Alexandrite Lake Lux Holdings Sarl/ Savoy Luxembourg Holdings Sarl (ALXDRT) EUR300m (WNG) 144A/Reg S sr sec notes due 2030 (5y). NC2 (MWC B+50bp) (50%, 25%, then par). Equity claw: 2y 40%. Special call: 10% per year the 1st 2 years. NR/B+/BB- (--/negative/stable). Via BNP (B&D) sole books/MS/CACIB/DB/SocGen/BofA passive book. CoC at 101. No reg rights. List ISE. NY law. Day count 30/360. Denoms 100x1. Reg S ISIN: XS3104473312. 

IPT: Low 7s. 

Roadshow (group meetings) 07/22-07/23 (did investor call at 10:30am UKT/11:30am CET 07/22). Pricing 07/24. UOP: along with EUR515m equity contribution from equity sponsor Brookfield, to refinance in full the EUR800m holdco bridge loan incurred in 2022 to fund Brookfield's acquisition of Alstria. Biz: 100% owner of Alstira, a leading German real estate company focused on acquiring, owning, and managing office real estate. HQ: Hamburg, Germany.

Deal Roadshow: https://dealroadshow.com/e/ALSTRIA25GIC. Code: ALSTRIA25GIC.