Deal Comments
11/10/2023 ZH Hcapfc Llafaif oci (ZH Htaro) (ZHRBLA) footau ES$1.6pa fprltfcfax (ZEF/ESU) 144J/Ffu S 5tAC2.5 ut ufi aaxfu 2-oftx. R3/R-/R+ (afufxltf/oaulxltf/uxfpcf). Llf Rfti (R&U, ES$ uacf otulifc paacu, ZEF lx otulifc paacu)/NYG (ZEF lx otulifc paacu)/RabJ (ZEF lx otulifc paacu) lx ucaiau/UR/HS/DSRC/EAH/Bcatiu/GS/Ffpa/SGRC Alcca/ERS lx paacu. Aa tfu tluxu. Blux ESZ. AP cfi. Sfxxcfu 11/20 (+6). Cfcc uxtrixrtf ifaufi xa AC2.5 btaf xf atlulafcct ocfaafi AC2.h - ES$1.1pa (btaf ES$1.1pa-ES$1.2pa fai ES$500f flalfrf) irf 11/30/28 (5t). AC2.5 (GRC H+50po), xfa fx 106.00, 103.00, 100. Zprlxt icfi 2.5t 40% fx 112. 144J CESEY 28228YJC5. EYH lu 11u-12%. Yu xfcc 11.75%-12.00%. Llafc xftfu ES$1.1pa 12.00% fx 100. Ytlifi 12.00% fx 100. +735po tu 1.50% 11/30/28.h - ZEF468f (ES$500f fprltfcfax) (btaf ZEF400f-ZEF500f fai ZEF500f flalfrf) irf 11/3028 (5t). AC2.5 (GRC R+50po), xfa fx 105.50, 102.75, 100. Zprlxt icfi 2.5t 40% fx 111. Ffu S ESEA AS2719998953. EYH fli-lu 10u. Yu xfcc 11.00% ftff. Llafc xftfu ZEF468f (ES$500f fprltfcfax) 11.00% fx 100. Ytlifi 11.00% fx 100. +840po tu URF 0.0% 11/15/28.h Fafiuai 11/06-08 (latfuxat ifcc fx 3of EFH / 10ff APH 11/06). Raacu icaufi fx 10ff APH/3of EFH 11/10. EYY fcaau ilx ES$500f LFA abbftlau (50% YEF), ili ilcc pf otltfxfct ocfifi ilx 2 lu prfclxt latfuxatu fx S+750po, fx 97.00 YEU ilx f ffxrtlxt ab Aat 2028 (Uairffaxfxlaa xa pf urpuxfaxlfcct iaauluxfax ilx xf ut ufi paaiu) (ili tfocfifu xf atlulafcct ocfaafi ES$500f fprltfcfax (ZEF/ESU) xftf cafa R fii-aa xa lxu fuluxlau xftf cafa irf Lfp 2028) (fcua aai $200f fuufx iluoaufc ptliuf bfilclxt fx S/Z+550po ilx ffxrtlxt ab Lfp 2028, ili tfirifu $200f ab xf 2025 xtfaif J uxrp), xa tfoft ESU2.657pa fprltfcfax ut ufi aaxfu irf 2025 fai 2026 (laicrilau ZEF647.3f 6.25% ut ufi aaxfu irf 10/30/35 (ifccfpcf fx 100), ES$587.2f 8.50% ut ufi aaxfu irf 10/30/25 (ifccfpcf fx 100), ZEF619.6f 4.375% ut ufi aaxfu irf 02/07/25 (ifccfpcf fx 100), fai ES$693.6f 6.75% ut ufi aaxfu irf 02/07/25 (ifccfpcf fx 100)). Zprlxt uoaauat HUF (50%) ilx xf Euuf bfflct aialau xf axft 50%. Rl f cffilau ucapfc iaatfalfaif tfxflcft fai brfc uxfxlaa iafofat, ufaftfxlau atft $25pa ab faarfc tftfarf fai fatf xfa $1pa ab ZREHUJ, fitauu 5,500 caifxlaau la Zrtaof, xf ES fai Jruxtfclf. DJ Rcficprta, EF.h Ya 10/31/23 ZH Htaro iafocfxfi xf ufcf ab xf fflatlxt ab lxu EF&E brfc, baaiufttlif, utaiftt fai fftifailuf prulafuu xa Juif bat f ifu iaauliftfxlaa ab HRY2pa ($2.5pa). Hf $2.5pa otaiffiu btaf xlu xtfaufixlaa ilcc pf rufi - xaufxft ilx xf afx otaiffiu ab $1.4pa btaf xf tfifax ufcf & cffuf pfic xtfaufixlaa la xf ES fai xf $43f afx otaiffiu btaf xf aaa-iatf ES fuufx iluoaufc - xa tfoft ifpx, fafpclau xf Htaro xa ulualblifaxct tfirif afx cftftfuf, la claf ilx xf otftlaruct faaaraifi blafailfc oaclit fai ifcftftfulau uxtfxfut. Hf iafocfxlaa ab xf EF xtfaufixlaa fccaiu xf Htaro xa iafocfxf xf otaifuu xa uriifuubrcct fffai fai fuxfai xf tffflalau $3.2pa ab lxu xftf cafau xtaru xf fuxfaulaa ab xf ffxrtlxt ifxf xa Lfptrftt 2028, ili ifu otlifi fai fccaifxfi la Nraf.
