Deal Comments
Vobxl Yeuapeb Cbauep Ybxap Xxwx (VYGEX) nu Qee3/QQQ- (e/e) AG$500o 144Z/Gx G tapt bx baxtpe 3u XFX eb wope xx 8/15/28. XEY ptw 1oo ueb xebb. 100 YoY. QQC/GQY/AGK/EXG (Q&X) woawp expau loooe. Xwooe 2,000 n 1,000. Geb awpo Yewexe Be - Enoupaow. AYC At Yoouewu awpwxe po xe uboxxe wboo ptae owwbawx po bueu oxpepewxawx awxlpxwee xwxb pt GXQY Ybxap Xexabapu ewx pt QZQZ Ybxap Xexabapu. Cbaxawx 7/16. Gppb 7/23 (A+5). 144Z YAGKC 38179GZE5i 144Z KGKQ AG38179GZE53.KCAe A+210 ebe.VAKXZQYE A+183#.VZAQYAEX $500o 3u ep A+183.CGKYEX $500o 5.45% 8/15/28 99.335 5.688% A+183. XE+30.-----------------------------Vobxl Yeuapeb Cbauep Ybxap Xxwx (Aaxob VYGEX), nuxpx bepawxe ow Qee3/Gpelb lu Xooxue ewx QQQ-/Gpelb lu G&C, tee eeox Ebbe Xebxo Gxxbapae, QQC CZGKQZG, GQY Yeuapeb Xebope ewx Abxaep Gxxbapae po ebbewx e ebae ow wanx awxoo awuepob xebbe po l xowxxxpx ow Axexeu, Qxbu 15pt. Zw bxpbowax ubewpepaow tabb l oex eueabelb xxbawx pt xebbe. Z xeuapeb oebope pbeweexpaow oeu wobbot, exlwxp po oebop xowxapaowe.Ebbe Xebxo Gxxbapae ae xoobxawepawx boxaepaxe.Yoouewu CebpaxauewpeXepptt Qwpow Ytaw Yubepawx Ywwaxb ow VYGEX, Aex ow Vobxl Yeuapeb QXY VboxuAao Aouax Ywwaxb ow VYGEXQoe Gewpeoebe Aex ow Awexxbx XxwxawxGxtxxb wob Axexeu, Qxbu 15pt, 2025Yebb #1 1200-1250CX EA | tppue//ubxebb.xo/oexx/11526Yebb #2 100-150CX EA | tppue//ubxebb.xo/oexx/47037Zloxp Vobxl Yeuapeb Cbauep Ybxap XxwxVobxl Yeuapeb Cbauep Ybxap Xxwx (Aaxob VYGEX) ae e wow-pbexx lxeawee xubouowp xoouewu obxewax ee e Xbeteb epepxpobu pbxep. VYGEX ae ew npbwebbu oewexx, wow-xaubeawax, xboex-wx oewexowp awuepowp xoouewu ptep tee bxpx po l bxxbepx ee e lxeawee xubouowp xoouewu xwxb pt Kwuepowp Yoouewu Zxp ow 1940, ee eowxx. Zxxapaowebbu, pt Yoouewu tee bxpx po l pbepx ee e bxxbepx awuepowp xoouewu xwxb Gxlxteupb X ow pt Kwpbweb Guwx Yox ow 1986, ee eowxx. VYGEXe awuepowp olwxpau ae po xwbep xxbbwp awxoo ewx xeuapeb euubxaepaow. VYGEX awpwxe po extau ape awuepowp olwxpau lu (1) exxeeawx pt epelbaetx boew obaxawepaow xtewwbe xuboux lu Vobxl Yeuapeb, e bexawx bwxb po A.G. oaxxb-oebop xoouewae ptep tex oub $75 labbaow ow xeuapeb xwxb oewexowp ee ow Zubab 1, 2025, (2) ebxpawx awuepowpe taptaw oxb xob oaxxb-oebop xoouewu woxxe, (3) uebpwbawx tapt nubawxx ubauep xapu waboe, ob euoweobe, aw oewu xeee tapt ttoo Vobxl Yeuapeb tee awuepx ebowxeax aw pt ueep, (4) aoubowpawx pt xaexaubawx xwxbtbapawx epewxebxe ow Vobxl Yeuapeb ewx (5) xbetawx xuow pt exxbxep nubawx ewx beoxbxe ow Vobxl Yeuapeb. VYGEX ae npbwebbu oewexx lu VY Zxuaeobe VVY (VY Zxuaeobe), ew ewwabaep ow Vobxl Yeuapeb.Zloxp Vobxl YeuapebVobxl Yeuapeb ae e oebop-bexawx, etebx-tawwawx xabxp bwxb ewx nubawxx ubauep xbxap oewexb. At wabo euxaebae aw xbaubawx bbaelb, xbepau ewx xooubbawx wawewxawx eobxpaowe po xoouewae lexox lu ubauep xapu euoweobe. Vobxl Yeuapebe euoweob wawewx nubpae ebeo woboe pt woxwxepaow ow ape Qboexbu Guwxaxepx Voew ewx Ybxap Yuuobpxwapae awuepowp uboxbeoe. Vobxl Yeuapeb wxbpxbe bowx-pbo, taw-taw uebpwbetaue ptep aweuab buep lxeawee wboo ubauep xapu euoweobe ewx awuepobe. Ze ow Zubab 1, 2025, Vobxl Yeuapeb tex oub 1,000 ouboue ewx oub $75 labbaow ow xeuapeb xwxb oewexowp, e xboee oeexb ow awuepx xeuapeb awxbxxawx bubex. At wabo tee owwaxe aw Qobpt Zobaxe, Exbou, Zeae ewx pt Xaxxb Eeep.
