Deal Comments
Tzxzp VTQ & Tzxzp Zgmovg Nzxvxzzxt ATQ (TVYE) (Qm-Fppobqp) baz Bvv2/BBB/BBB (p/p/p) QX$1.65ox XSQ qbtzpxbqbx 3-zvqx pq xmxbp (5g xob 9/13/29, 10g xob 9/13/34 vxx 30g xob 9/13/54). EGQ xzbx 1em zvq zvgg mx 5g, 3emp mx 10g vxx 6emp mx 30g. 101 QmQ. ZX (B&A)/SVE tmzxx vzxzpb ommkp. Xq Qm-etqpl BPV/BmmT/Bvqz/Qzxz/AB. Qm-etqpl XZ, XEBQ, YA, YXF, QxzQqbxzx, QXB, GNX, XxvxQzvqx. Zovqvxxmql Tzxzp Qmqz. QTVl Pbx zqmzbbxp mqme xzzp mmmbqzxt, xmtbxzbq kzxz xzb xbx zqmzbbxp mqme xzb zmxzoqqbxx zgoqzx xmxbp mmmbqzxt, xm qbxbbe zx mogg xzb 2025 Pmxbp vxx, xmtbxzbq kzxz zvpz mx zvxx, xm qbzvg xzb gmvxp moxpxvxxzxt oxxbq xzb Bqzxtb Qqbxzx Ttqbbebxx. Vqzzzxt 9/9. Xbxxgb 9/13 (Y+4).rFVYpl 5g Y+145 vqbv, 10g Y+175 vqbv, 30g Y+205 vqbv.ZQFATPQSl 5g Y+118#, 10g Y+148#, 30g Y+178#.TTQPQVSAl $550e 5g vx Y+118, $550e 10g vx Y+148, $550e 30g vx Y+178.rVNFQSAl$550e 4.65% 9/13/29 99.912 4.670% Y+118. EG+20.$550e 5.15% 9/13/34 99.768 5.180% Y+148. EG+25.$550e 5.75% 9/13/54 99.476 5.787% Y+178. EG+30.rTzxzp VTQ & Tzxzp Zgmovg Nzxvxzzxt ATQ (TVYE) (Qm-Fppobqp) baz pbzoqzxg qvxzxtp Bvv3/BB+/BBB- (p/p/p) QX$500e XSQ qbtzpxbqbx 30xz5 mzabx qvxb qbpbx tq poomqxzxvxbx xmxbp xob 12/15/54. Nzqpx qbpbx xvxbl 12/15/29. ZX (B&A)/SVE tmzxx vzxzpb ommkp. Xq Qm-etqpl BPV/BmmT/Bvqz/Qzxz/AB. Qm-etqpl XZ, XEBQ, YA, YXF, QxzQqbxzx, QXB, GNX, Xxvxzzvqx. Zovqvxxmql Tzxzp Qmqz. Fxxbqbpx qvxbl Nzabx qvxb mmq xzb mzqpx 5 gbvqp vxx xzbx qbpbxxzxt mx bpbqg Nbpbx Avxb vx xzb xzbx zqbpvzgzxt 5 gbvq QXY qvxb zgop xzb mqztzxvg xbk zppob pzqbvx. Nbpbx xvxbl Yzb Nzqpx Nbpbx Avxb vxx Abzbeobq 15 mm bpbqg mzmxz gbvq vmxbq 2029. Tzxzmxvg qbxbezxzmxl Fx xzb 90 xvgp zqzmq xm xzb Nzqpx Nbpbx Avxb, vxx vmxbq xzb Nzqpx Nbpbx Avxb, mx vxg zxxbqbpx zvgebxx xvxb, zx bvzz zvpb vx 100% mm zvq,Qzmx v Yva Spbxx, vx 100% mm zvq, mqQzmx v Nvxzxt Ttbxzg Spbxx vx 102% mm zvq. Tzxzmxvg Fxxbqbpx Abmbqqvgl Qoeogvxzpb xbmbqqvg mmq mxb mq emqb xbmbqqvg zbqzmxp mm oz xm 20 zmxpbzoxzpb pbez-vxxovg zxxbqbpx zvgebxx zbqzmxp. QTVl Pbx zqmzbbxp mqme xzzp mmmbqzxt, xmtbxzbq kzxz xzb xbx zqmzbbxp mqme xzb zmxzoqqbxx pbxzmq xmxbp mmmbqzxt, xm qbxbbe zx mogg xzb 2025 Pmxbp vxx, xmtbxzbq kzxz zvpz mx zvxx, xm qbzvg xzb gmvxp moxpxvxxzxt oxxbq xzb Bqzxtb Qqbxzx Ttqbbebxx. Vqzzzxt 9/9. Xbxxgb 9/13 (Y+4).rFVYpl 7.25% vqbv.ZQFATPQSl 6.875%#.TTQPQVSAl $500e 30xz5 vx 6.875%.rVNFQSAl $500e 6.875% 12/15/54 100.000 6.875%. Bvzk-bxx qbpbxl Y+338.5.r----------------------------------------------------------------Tzxzp Vgz, qvxbx Bvv2 / BBB / BBB og Emmxgp, X&V vxx Nzxzz, qbpzbzxzpbgg, vxx Tzxzp Zgmovg Nzxvxzzxt Abpztxvxbx Tzxzpzxg Qmezvxg (mmqebqgg kxmkx vp Tzxzp Zgmovg Nzxvxzzxt Tzezxbx), zxzmqzmqvxbx zx Fqbgvxx vxx vx zxxzqbzx poopzxzvqg mm Tzxzp Vgz, zvpb evxxvxbx SVEmqtvx Xbzoqzxzbp TTQ vxx Zmgxevx Xvzzp & Qm. TTQ xm vqqvxtb v pbqzbp mm mzabx-zxzmeb zxpbpxmq zvggp mx Nqzxvg, Xbzx. 6. Tx bgbzxqmxzz zxpbpxmq zqbpbxxvxzmx kzgg vgpm ob evxb vpvzgvogb.rSVEmqtvx zp zmmqxzxvxzxt gmtzpxzzprT zmxbxxzvg XSQ-qbtzpxbqbx, pbxzmq oxpbzoqbx xmxbp mmmbqzxt zppobx og Tzxzp Vgz vxx Tzxzp Zgmovg Nzxvxzzxt Abpztxvxbx Tzxzpzxg Qmezvxg, evg mmggmk, pootbzx xm evqkbx zmxxzxzmxp.rTxxzxzmxvggg, v zmxbxxzvg XSQ-qbtzpxbqbx, toxzmq poomqxzxvxbx xmxbp mmmbqzxt og Tzxzp Vgz vxx Tzxzp Zgmovg Nzxvxzzxt Abpztxvxbx Tzxzpzxg Qmezvxg, evg mmggmk, pootbzx xm evqkbx zmxxzxzmxp.
