Deal Comments
Wcplr lu Qlplpl (QQLQW) c Y2/YY+/YY+ (f/f/n) ZB$3.64f BUQ icllnxcic 2-ix lplp ni flxcn (12t ppcx c 11/7/36 f 30t ppcx c 11/7/54). WTQ xccf 3pln i rpp lf 12t f 6pln lf 30t. Qlxl (Y&U)/Qx/BWYQ Qluul rllfx llun. Llnxlfla Lcplil Bxlru Urcflc (Uil WST Wiucx) f Llflf Bxlru Urcflcyesn Qfxcifxllfp Bcrilxlcn Wiucx. ZQVa Qlplpl lpp nc xcc fcx ilrccn lu xcc luucilfl (l) lf ix, uli pllplxt pflcpcfx xifnrxllfn, clrc pt lfrpc tpcfx lu xcc ircnc ilrc uli pp li lixllf lu Qlplplyesn 4.500% Vplp Ylfn c 2026 (xcc ye4.500% 2026 Vplp Ylfnye) f 3.875% Vplp Ylfn c 2027 (xcc ye3.875% 2027 Vplp Ylfnye f rlppcrxlcpt, xcc yeQp Vplp Ylfnye) xcx Qlplpl pt ircnc infx xl lxn Quuci xl Vircnc, lf xcc xcipn f nrcrx xl xcc rlflxllfn ncx ulixc lf xcc Quuci xl Vircnc, f/li (ll) uli lcfcip lcxit ilncn. Tn lu xcc xc lu xcln ilncrxn npcpcfx, xccic cic Z.B. $1,500,000,000 4.500% 2026 Vplp Ylfn f Z.B. $1,896,692,000 3.875% 2027 Vplp Ylfn lxnxflfl. Scc 4.500% 2026 Vplp Ylfn ci ulc lfxcicnx rllf lu 4.500% f ic c xl pxic lf Wfit 28, 2026. Scc 3.875% 2027 Vplp Ylfn ci ulc lfxcicnx rllf lu 3.875% f ic c xl pxic lf Tilp 25, 2027. Vilrlfl 10/28. Bcxxpc 11/7 (S+8). QVSna 12t 8.15% ic, 30t 8.80% ic.VZQUTQQUa 12ti 7.85% (+/- 5) 30ti 8.50% (+/- 5).LTZQQHUUa $2f 12t 7.80%, $1.64f 30t x 8.50%.VWQQUUa$2f 7.75% 11/7/36 99.615 7.80%.$1.64f 8.375% 11/7/54 98.650 8.50%.WUVZYLQQ QT QQLQWYQT SUQUUW QTTUWQnnciaWcplr lu Qlplpl (yeQlplplye li xcc yeWcplrye, Slrucia yeQQLQWye)Bxirxica1-t xcfci luuciUplllpc Qlxcna4.500% Vplp Ylfn c 2026 Qxnxflfl Vilfrlp Tplfxa ZB$1,500,000,000 Tlc Vilrc (ci Z.B. $1,000 Vilfrlp Tplfx)a $992.50 ZB195325QB13 / 195325QB 13.875% Vplp Ylfn c 2027 Qxnxflfl Vilfrlp Tplfxa ZB$1,896,692,000 Tlc Vilrc (ci Z.B. $1,000 Vilfrlp Tplfx)a $960.00 ZB195325UL65 / 195325UL6Scfci WcrcflrnaScfci licin pnx c nplxxc lfpt xcillc Qlxllil (Y&U)Scfci QlflxllfaQlplpl icncicn xcc illcx, lf lxn nlpc lnricxllf, flx xl rrcx ft li rcixlf xcfcin uli ft icnlfScfci QflrxllfnayeWclfcnxpcfx Scfcinye pcfn xcc Scfci Qicin xcx ic nplxxc rlfriicfxpt lxc xcc nplnnllf lu f clpcfx-nlc Qflrxllf lu Qfxcicnx uli xcc 2036 Ylfn "Blppc Scfci" pcfn ft Scfci Qici xcx ln flx f Wclfcnxpcfx Scfci. Blppc Scfcin lfrpc, plfl lxccin, Scfci Qicin xcx ic nplxxc lxclx xcc rlfriicfx nplnnllf lu f Qflrxllf lu Qfxcicnx uli xcc 2036 YlfnUcpci WflcinaQlxllil (Y&U) / Qx / BWYQ QluulQfulipxllf TlcfxaU.T. Vlfl & QlScfci Slpcplfc (nrcrx xl rcflc lxclx flxlrc)aQrxlci 28, 2024 Tx li ilf 7a30 .p.a Tfflfrcpcfx12a00 .p.a Blppc Scfcin f Wclfcnxpcfx Ulixllf (l.c. Qnc)1a00 .p.a Wclfcnxpcfx Scfcin Ulixllf (l.c. Blxrc)Tx li ilf 4a00 .p.a Tn nllf n lnnlpc xccicuxci Qlplpl fflfrcn xcc ilrlfl xcipn uli xcc Qc Ylfn Quucilfl. Qrxlci 29, 2024 Qlplpl fflfrcn xcfci icnpxn (Wliflfl) Qlcpci 4, 2024 Bcxxpcpcfx lu plpt rrcxc xcfcin lxc Y&U Yfu Qlcpci 7, 2024 Bcxxpcpcfx lu fc flxcn
