Deal Comments
Xrrlna PX (XSTAP), uoi supecnr clnnls X1 (hrp)/X+ (sseuc clnnls Xl2/XX (s/s)), CP$1.25pn 30np10 144X/Pul P nx cul clhns Pepxcpnlnup cusunnlpru poup clnu Luc 2 Gxnus peu 9/3/54. TxpX/TGJ/Nn (T&G)/GT/PPTN oxnn pxxks. Wcsn cusunz 9/3/34. 6oxs ilc plrr. Nxeixnz Woup ennr 9/3/34. Vp nxn cupuuoup, pxeixn cusuns uaucr 5rcs ln 5r NQL +olcln (nprepus 100pi snui-ei). Vsseuc sesnlnlprnr clnnlsz VPP XPAz Jcou snlnes / P&J Arxplrz 82/100. Ssnnlz Seouopxecl. Axaucnnl Sluz Aucoln. CCJz lpi, nprepnl nhu ixnunnlr cupnlnpnl xp uosnnl pupn. Qlckunnlz hnnisz//uuu.nuncxlpshxu.pxo | unncr pxpuz XSSVXGA2024 (nxn plsu-sunsnau). Jcpnl 8/27. Punnru 9/3 (L+4).VJLsz 6.125% lcul.PTPG VJLsz 6.00% lcul.SXCGNPXGz $1.25pn 30np10 ln 5.60%.JPVNXGz $1.25pn 5.60% 9/3/54 100.00 5.60%. Tlpk-unp cusunz L+277.1 (nprepnl 100pi snui-ei).Pupuoinxn ln nhu Cinxn xp nhu Vsseucz Lhu Vsseuc olr cupuuo nhu Gxnus (n uhxru pen nxn n ilcn), sepoupn nx nhu Nxnpnxns nx Pupuoinxn, xn () ulph Tesnuss Glr pecnl nhu iucxp pcxo (lnp nprepnl) 3 Qlcph 2034 nx (pen uoprepnl) nhu Wcsn Pusun Glnu () nhu Wcsn Pusun Glnu lnp () ulph Pusun Glnu lpnuc nhu Wcsn Pusun Glnu.Plnu xp Vnnucusnz Woup clnu xp % iuc lnneo, ilrlpru suo-lnnelrrr n lcculc xn 3 Qlcph lnp 3 Puinuopuc n ulph rulc, pxoounpnl xn 3 Qlcph 2025 ennr (lnp uoprepnl) nhu Wcsn Pusun Glnu. Vnnucusn clnu cusuns xn nhu Wcsn Pusun Glnu lnp uaucr Pusun Glnu nhuculpnuc nx nhu seo xp nhu liirplpru Pupucunpu Plnu lnp nhu Qlcln (nprepus 100pi snui-ei)Pupucunpu Plnuz 5-rulc NQL Plnu (uoicussup n iuc punn. iuc lnneo, uelr nx nhu suo-lnnelr rurp pxc C.P. Lculsecr Pupecnus ln pxnsnlnn olnecnr)Pnui-eiz 100piCinxnlr Vnnucusn Gupucclrz Nlsh peoerlnau, nxn-pxoixenpnl xinxnlr pupucclr sepoupn nx papunp ieshuc (6 oxnnh rxxkplpk)Nxoiersxcr Vnnucusn Gupucclrz Nlsh peoerlnau, nxn-pxoixenpnl pxoiersxcr pupucclr p () ln Vnsxraunpr Xaunn hls xppeccup xc uxerp pu plesup pr nhu ilrounn xp nnucusn, () nhucu s l culerlnxcr icxhpnxn nx ilr nnucusn xc () l Pxraunpr Nlinlr Xaunn hls xppeccup xc uxerp pu plesup pr nhu ilrounn xp nnucusn, enruss nhu culerlnxc iucons ilrounn enpuc uopuinxnlr pcpeosnlnpusPxraunpr Nlinlr Xaunnz Gxn-pxoirlnpu pr nhu Vsseuc lnp/xc nhu Acxei unh lnr curualnn sxraunpr plinlr cuecuounns liirplpru nx nhu Vsseuc lnp/xc nhu AcxeiJlrounn xp Xcculcs xp Vnnucusnz Jlrlpru ln nhu xinxn xp nhu Vsseuc (n uhxru xc n ilcn) ln lnr nou p nx Nxoiersxcr Gupucclr Xaunn hls xppeccup lnp s pxnnnenl. Jlrlpru olnplnxcrr xn nhu ulcruc xp nhu pxrrxunl plnus () n cusiupn xp lnr Xcculcs xp Vnnucusn nhln uosnup icxc nx nhu xppeccunpu xp l Gapunp Jlrounn Xaunn, nhu pcsn Vnnucusn Jlrounn Glnu pxrrxunl nhu plnu xn uhph seph Gapunp Jlrounn Xaunn xppeccup lnp xn uhph nx Nxoiersxcr Gupucclr Xaunn hls xppeccup lnp s pxnnnenl, () nhu plnu xn uhph nhu Gxnus plrr peu pxc cupuoinxn lnp () nhu plnu xn uhph ln xcpuc s olpu pxc nhu unpnl-ei, pssxrenxn xc replnxn xp nhu VsseucXonclxcpnlcr Nlrr Plhnsz Lhu Vsseuc olr cupuuo nhu Gxnus (n uhxru pen nxn n ilcn) ln nhuc icnpilr loxenn nxlunhuc unh lnr lppceup nnucusn ln lnr nou eixn nhu xppeccunpu xp l Llo Xaunn, Pulerlnxcr Xaunn, Xppxennnl Xaunn xc Plnnl Xlunpr Xaunn, xc p nhu lllcullnu icnpilr loxenn xp nhu Gxnus xensnlnpnl s uelr nx xc russ nhln 25% xp nhu sseup loxenn. Xnr seph cupuoinxn s sepoupn nx nhu Nxnpnxns nx Pupuoinxn. Lhu Vsseuc olr ulau ln lnr nou lnp n ns sxru pspcunxn, lnr xp nhu lpxau plrr clhns pxc l pupnnu xc npupnnu iucxp xp nouNxnpnxns nx Pupuoinxnz Xnr cupuoinxn xc iecphlsu xp nhu Gxnus s sepoupn nxz () nx Vnsxraunpr Xaunn, () nx Purualnn Nxnsxrplnup Pepsplcr Vnsxraunpr Xaunn (sepoupn nx ln uopuinxnlr icepunnlr ulauc n pucnln pcpeosnlnpus), () nx Pxraunpr Nlinlr Xaunn hlanl xppeccup (sepoupn nx ln uopuinxnlr icepunnlr ulauc n pucnln pcpeosnlnpus), lnp (a) icxc liicxalr pr nhu Nxoiununn Peiucasxcr Xenhxcnr. Xnr cupuoinxn xc iecphlsu xp nhu Gxnus icxc nx 3 Puinuopuc 2029 s lppnxnlrrr sepoupn nx cuirlpuounn unh plsp xun-penp nuos xp ln rulsn nhu slou elrnr (xnhuc nhln n plsu xp l cupuoinxn pxrrxunl l Pulerlnxcr Xaunn xc Llo Xaunn, uhph enpuc pucnln icupxnpnxns lcu ixsspru unhxen cuirlpuounn ln lnr nou, nprepnl icxc nx 3 Puinuopuc 2029)
