Commentary & Deal Flow

Vivo Energy Investments BV (VIVENE), exp Baa3/BB+/BB+, US$350m (expected) 144A/Reg S 7nc3 sr notes due 9/24/27. Callable from 9/24/2023 (then at 102.563, 101.281, 100). Gtd by Vivo Energy plc and Vivo Energy Holding B.V. JPM (B&D)/SG joint global coordinators. List ISE (Channel Islands). New York Law. UOP: refi existing debt and gcp. Books open, pricing today. Settle 9/24.

• IPTs: 5.375% area.
  FINAL GUIDANCE: 5.25% area (+/- 12.5).
  LAUNCHED: $350m 7nc3 at 5.125%.
  

PRICED: $350m 5.125% 9/24/27 100.00 5.125% T+466.6.