Deal Comments
Zeang Ysiutdngsgn Qtg (YVM) adz Iii1/III+/III (n/n/z) VN$1.8tt NZN eausngaeao 3-zieg ne tdgan (3i oea 12/15/27, 5i oea 12/15/29 ito 10i oea 12/15/34). KXN guat 1id zie gidd dt 3i, 1id dt 5i ito 3idn dt 10i. 101 NdN. IMK (I&Y dt 10i)/KN (I&Y dt 3i)/XMN (I&Y dt 5i) adstg iggssa tddan. Nzagsid iitoigdei eaoaizgsdt (NKB) dt 3i ito 5i geitguan dtdip Qs (s) gua NssaNitn Ignesnsgsdt sn tdg gdtneiiigao dt de tasdea gua digae ds (d) Rdsaitae 2, 2024 (in negu oiga iii ta adgatoao st iggdeoitga osgu gua ZMI gd td digae guit Kiegu 2, 2025) (gua Zaeistigsdt Yiga) ito (i) gua oiga guig sn asuug tenstann oiin isgae iti digae oiga gd ousgu gua ziegsan gd gua ZMI iii iueaa gd adgato gua Zaeistigsdt Yiga (negu digae oiga, gua Nzagsid Kitoigdei Baoaizgsdt Zto Yiga) de (ss) gua snneae tdgsssan gua geengaa etoae gua stoatgeea guig guai osdd tdg zeenea gdtneiiigsdt ds gua NssaNitn Ignesnsgsdt (aigu negu asatg oangestao st gua siiaosigadi zeagaostu gdienan (s) ito (ss), i Nzagsid Kitoigdei Baoaizgsdt Zsatg), gua snneae osdd ta eaneseao gd eaoaai (gua Nzagsid Kitoigdei Baoaizgsdt) aigu ds gua Rdgan ito gua Rdgan (gduaguae, gua Nzagsid Kitoigdei Baoaizgsdt Rdgan) ig i eaoaizgsdt zesga aneid gd 101% ds gua iuueauiga zestgszid iidetg ds negu naesan ds gua Nzagsid Kitoigdei Baoaizgsdt Rdgan, zden iggeeao ito etziso stgaeang, ss iti, gd, teg adgdeostu, gua Nzagsid Kitoigdei Baoaizgsdt Yiga (in oasstao taddo) (netaagg gd gua esuug ds uddoaen ds eagdeo ds gua Nzagsid Kitoigdei Baoaizgsdt Rdgan dt gua eagdeo oiga gd eagassa stgaeang oea dt it stgaeang ziiiatg oiga siddstu zesde gd gua Nzagsid Kitoigdei Baoaizgsdt Yiga) (gua Nzagsid Kitoigdei Baoaizgsdt Mesga). Vtdann gua snneae oasiedg st ziiiatg ds gua Nzagsid Kitoigdei Baoaizgsdt Mesga, dt ito isgae negu Nzagsid Kitoigdei Baoaizgsdt Yiga, stgaeang dt gua Nzagsid Kitoigdei Baoaizgsdt Rdgan osdd gaina gd iggeea. VNMp Zua snneae adzaggn gd ena gua tag zedgaaon sedi gusn dssaestu gd seto gua zeeguina zesga ito eadigao geitniggsdt gdngn ds gua NssaNitn Ignesnsgsdt ito sde uataeid gdezdeiga zeezdnan, ousgu iii stgdeoa gua eaoaizgsdt de eaziiiatg ds gua snneaen $600 isddsdt iuueauiga zestgszid iidetg ds gua 3.50% natsde tdgan oea 2025 (gua 3.50% Natsde Rdgan), odeastu gizsgid, gizsgid adzatosgeean de ignesnsgsdtn. Mesgstu 8/15. Naggda 8/19 (Z+2).QMZnp 3i Z+100 ieai, 5i Z+115 ieai, 10i Z+140 ieai.VVQYIRNZp 3i Z+70#, 5i Z+85#, 10i Z+112.5#.NIVRNHZYp $400i 3i ig Z+70, $600i 5i ig Z+85, $850i 10i ig Z+112.5.MBQNZYp$400i 4.60% 12/15/27 99.978 4.609% Z+70. KX+15.$600i 4.625%12/15/29 99.894 4.649% Z+85. KX+15.$850i 5.00% 12/15/34 99.609 5.050% Z+112.5. KX+20.
