Deal Comments
Drzllel Ercytr Qrllltr CC ybt (DZVFN), rcy E-/E- (/y) sd R&E/Qretu, LR$800y 144N/Erb R 2-ylye bclyllerrz y clrt ler (3.5lt1.5 (yly ybc 25%, yly) zcr 6/3/28 llz 7lt3 (yly ybc 50%, yly +25%, yly) zcr 12/3/31). Srer (E&V)/Elyt/VE/JEC/RellSulye l Jrle Sbslb Syzrlley llz Frlz Clllbry. Sclylleyh Zerl Rely Ubzrlb Fez. llz Drbery Zylzrlb Fryrerz. Frerlbh Rrlblyyr. Fleh Zlbbru. LOEh Z yrlrllltr ceellzrlb slz zcr 2028. Eyrtrlb 11/25. Rreebr 12/3.aoCEZh 3.5lt1.5h 10.375% lyrl, 7lt3h 11.375% lyrl.aoEECSZVh$300y 10.25% 6/3/28 100.00 10.25%. Slbblsbrh 6/3/26 le 102.563, 6/3/27 le 100.$500y 11.25% 12/3/31 100.00 11.25%. Slbblsbrh 12/3/27 le 105.625, 12/3/28 le 102.813, 12/3/29 le 100.aoSvrlllehZrd tvrllleh- Nrblervr brrl l syllz lrr yrtrrvlsbr (eury eull tulybr lbyrlzd tyrlerz y tyyreerz rl lrllltrlb ztcyrle)- Cltcyyrltr zrse tlyh- Elyrle bclylley llz re csrzrlyrrh QSSE byrlery eull/rbclb e 1.75c (clerb Clytu 2025) QSSE byrlery eull/rbclb e 2c (clerb Clytu 2026) QSSE byrlery eull/rbclb e 2.25c (clerb Clytu 2027) QSSE byrlery eull/rbclb e 2.5c (euryrllery)- Rcsrzrlyd bclylleyh- Neeyrscelsbr zrse/Zsrezl l 6c tcyyrlebd llz 5.5c ye Rrye. 30, 2025- Zreury lh Vrse tly rctbczrlb rlery-tyylld bll l $4s (lblrle l 40.99% elr urbz sd csrzrlyd bclylley) y tlbrzlerz ylyrle bclylley QSSE l 3.5cEreyrterz yldyrleh- Ecrbzry slre, 50% l lre rltyr (tlbtcblerz l zrvrzrlz + syllz lrr - rleryre te rcyrlr)- Cltyrlr e 100% l lre rltyr, rl tlbrzlerz QSSE byrlery eull/rbclb e 3.5cOeury tvrllleh Fryrelerl l zreyrscerl l lre yytrrz lyy lre lbr SSaoao-------------------------------------------------------------------------aoDrzllel Ercytr Qrllltr CC ybt (eur "Ccry"), l eubbd elrz csrzrlyd l Drzllel Ercytr Fryrerz (eur Syylld), rcyrterz e sr ylerz E/Relsbr sd R&E llz E-/Erervr sd Qretu ul yllzlerz Srerbycy, Elytbld, Vrcetur Ell, J.E. Cybll, llz Rellzlyz Sulyeryrz Ell l Jrle Sbslb Syzrlley llz Frlz Clllbry e lyyllbr l ryrr l lrcrz rltyr rlvrey tlbb rl Nrl, Zcyyr llz eur LR tyyrltrlb Nvrysry 20, 2024. N LR$ srltuyly 3.5Q llz / y 7Q 144N/Erb R llryrlb l bclyllerrz rlry slz (eur Ner) yld lbbe, csrte e ylyre tlzrerl. Zur yldyrle l lbb lycle zcr rl yryrte l eur Ner erbb sr cltlzrerllbbd llz ryyrvtlsbd bclyllerrz sd eur Syylld, Zerl Rely Ubzrlb Fez. llz Drbery Zylzrlb Fryrerz (tbbrtervrbd, eur Sclylley). Zur Ner lyr rcyrterz e sr ylerz E- / E- sd R&E / Qretu.
