Commentary & Deal Flow

Maxeda DIY Holding BV EUR420m (up from EUR400m) 144A/Reg S sr sec 1st lien notes due 2016 (6y). NC2 (MWC B+50bp) (50%, 25%, par). Equity claw: 2y 40%. Special call: 10% per year the 1st 2 years at 103. B2/B-/B+ (stable/--/stable). Via GS (B&D)/ING joint physical books/joint glocos, ABN/BNP joint books. No reg rights. List ISE. NY Law. EUR20m upszize UOP: GCP. Px talk: 6.00%-6.25%.

Final pricing: EUR420m at 5.875%.

Did investor call 10:30am UKT 09/14. Books closed at 3:30pm UKT today. Reconfirm orders by 4:30pm UKT today. Pricing today. UOP: along with cash on hand, to redeem its EUR436m 6.125% sr sec 1st lien notes due 07/15/22 (callable at 101.531) (Maxeda previously purchased EUR40m of the notes during the 6mos ended 08/02/20 with cash on hand), EUR20m upsize for GCP. Equity Sponsors: Ardian and GoldenTree. Biz: Leading DIY retailer in Belgium and the Netherlands, with strong and stable market positions underpinned by a dense network of 348 stores across multiple retail formats and brands that cater to a diverse range of DIY customers and needs. HQ: Amsterdam, Netherlands.