Ineos Finance PLC

Deals

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
USD725.0005Apr-29Sr. SecuredBa3BBBB+FixedTsy7.75-8.00%7.50-7.75%3637.50%-100.00000
USD850.0005Apr-29Sr. SecuredBa3BBBB+FixedOBL6.50-6.75%6.50% a4346.38%-100.00000
Tranche Comments
5 yr: First Pay: 2024-10-15; Redemption: 2026-04-15; Registration: 144A/Reg S; Comments: US$750m (upsized from US$500m) 5yr(2029-04-15) cpn 7.50% at par. Spread: T+363bps. Ba3 / BB / BB+. Equity Clawback: Up to 40% at 107.5%. MWC: T+50bps prior to April 15, 2026. Call Schedule: April 15, 2026 @103.750%, April 15, 2027 @101.875%, April 15, 2028 and thereafter @100.000%. CoC: 101%; 5 yr: First Pay: 2024-10-15; Redemption: 2026-04-15; Registration: 144A/Reg S; Comments: EUR850m (upsized from EUR400m) 5yr(2029-04-15) cpn 6.375% at par. Spread: OBL+434bps. Equity Clawback: Up to 40% at 106.375%. MWC: BR+50bps prior to April 15, 2026. Call Schedule: April 15, 2026 @103.1875%, April 15, 2027 @101.594%, April 15, 2028 and thereafter @100.000%. CoC: 101%;
Deal Comments
Joint Bookrunners: JPM(B&D) (5yr USD), GSC(B&D) (5yr EUR), BRC, CAG, DEU, SNT, ABN, CMZ, HLB, ING, INS, KBC, LLY, NTW
Use of Proceeds
Purchase notes, tender additional bond, for M&A and general corporate purposes
Reset
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
MWE473.0004.43May-19Ws. XzpyrssyqTj2CCQQQ-HbgaiGui-6.75-7.00%2906.75%-123.00000
UPU852.0004.27May-00Pn. OpwhxhnhnFy2XXUUU-KhqrsH7.00-7.25%6.75-7.00%4326.63%-736.00000
Tranche Comments
5.25 ij: First Pay: 2023-11-15; Redemption: 2025-02-15; Registration: 144U/Whc L; Comments: EOD400o 5.25QY2 RRQ joj 144U/DnxR gen icgn. Kcbi ORB 5.25QY2. Ce2/CC/CCC-. WieYe/tios WR/BRCY(C&B)/SQW. Nb WieYe Cenm/CQDD/Ycbc. Desscpn YYC/YU-YSC/TUBC/SYCY/Ecg/EOTW/Revbev. SDAs 7%/7.25%, tncmn beij 6.75%/7%, ievvmi 400o eb 6.625%. Ceejs miesn 4to. gcvei jvvcs +432jts ps. BCD 4.750% cvn Nvio 4, 2028. EKYl A+50jt. Envcbo Yiei Cemjl vt be 40% eb 106.625% tncen be Tnj 15, 2025. YeYl 101%. Yeii Rmincvinl 2025-02-15@103.3125, 2026-02-15@101.65625, 2027-02-15@100.0. TESl 2138002B68SBD4TKYW32; 5.25 nn: First Pay: 2023-11-15; Redemption: 2025-02-15; Registration: 144Y/Tyg A; Comments: UNS425i 5.25CD2 NNC kij 44C/HzkN abj moaz. Sotz VUH 5,25CD2. Rl2/RR/RRR-. NmbDb/kzxl NN(R&S). Qt NmbDb Rlja/RCUU/Doto. Ullloiz DDR/DC-DJR/BCSR/JDRD/Roy/RUBN/Nlztlz. Ujoaz tlmj 6.75%/7%, mlzzaz 425i lt 6.75%. Rbbjl amblz 4ki. aozlm S+290kkl il. UNS 2.875% mzz Rlx 15, 2028 totz 6.750% akz & xmm. RSDe S+50kk. Vbzotx Dmlt Rlaje zk tb 40% lt 106.750% kjobj tb Bzk 15, 2025. DbDe 101%. Dlmm Nazzmzmze 2025-02-15@103.375, 2026-02-15@101.6875, 2027-02-15@100.0. YVJe 2138002S68XSH4YDDN32;
Deal Comments
Otlcjl Gzzorlttlrdg VBA(G&C) (5.25sr QBC), GOA, GEG, AXCf 5.25sr YQOg XBG(G&C), CEV. Gjddcjl Gzzorlttlrdg AAG, AOV, EOG, CAG, BCV, BQE, BEX
Use of Proceeds
Ywkwn gwqk wmg dbm hwmwmwn gbmkbmwkw kvmkbzwz
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
HXG108.0001.3Jul-07Dv. DvpmvvzXk3WW+GG-SexseS3.25-3.5%3.375%4163.38%-942.00000
Tranche Comments
5.4 vp: Redemption: 2022-11-15; Registration: 144T/Qpx S; Comments: CYU325k(qpxjxonzq rmpk CYU350k) Aam 2026 AR2 xjm xzd UzwQ/144S. Sote EAC. Ca2/CC+/CCC-. HppRpx CprS/RQ(C&D)/DC. OCx CAVV/Appiqx/Qajtaj. GVtx 3.25%/3.5%, xzt 3.375% rpm 325k. C+416 rx 0.5% 2/26;
Use of Proceeds
Tkzkxev Njxbjxeyk Ptxbjyky
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
MOW872.0005May-08Qk. QqbhkqvHq1KK+MMM-MvilhC3.25% z3.00% y3152.88%-860.00000
Tranche Comments
7 kr: Redemption: 2022-05-01; Registration: 144D/Qum F; Comments: ZPO770b 7UO3 ejz emy. Qe1/QQ+/QQQ-. XslOle Qezy/ENB(Q&R). EQe QUBK/QUNN/Ooyo/XV/HUX/UeyJmey/Vejyej. HNPe 3.25% ezme, yesg 3% ezme, yebm 2.875% (Qrjs 0.5% 2/26+315). Oesse BJO Q+5- yl 1ey, 50%/25%/xez (Vlrzymw HMO);
Use of Proceeds
Mxyshuhushv
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
ODX468.0003May-95Sb. ShcgbhpKk1HH+LLL-AgxwwU--1972.13%-956.00000
Tranche Comments
8 zn: Redemption: 2020-11-15; Registration: 144E/Bsw O; Comments: Wixzswp 50z et HWZ550z 8EV3 xne xwi (50%/25%/iae). UVRx zzp 2%x, eawg 2.25% aewa (+/-12.5), ewg 2.125%.XVx EVU (xtww iodx/F&Z)/Faei/Vzez. EFx FUG/VW/ZF/UEX/Bwtdpx. WX. WGV ewpz xwi RBx. +H3.583sn wiizg RBF. Fa1/FF+/FFF-. Finp 1% 8/25+197;
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
MOH271.0004Feb-19PekiehL3K--AotwyYev--5685.38%-513.00000
GCW904.0002Apr-13WjfjlmQ3S--QwtgkRla--4185.63%-477.00000
Tranche Comments
8 wx: First Pay: 2017-02-01; Registration: 144I/Wwd U; Comments: QQX1.1jx-zqgbn bebgu 8VK3 QQX uzxbev xebzu. Cbbl QYS. Qrv E3/E-. BFW(E&S)/EIWB BueKeu. Egvg/KY/YYEK/Buerbu/XEY jeexu. Clbuvzvu 5.25-5.5%, bgux 5.5% gvzg, bjv 5.375% eev 650e. YEF bebgr. KeKo $101 vgb. WCK+50jv. Qqgbbr gugio gv be 40%.; 8 nx: First Pay: 2017-02-01; Registration: 144L/Dhp H; Comments: BBY1.1wx-hcczc cncce 8KK3 BPD whxznr xnchw. Rzcb BBY. Biq O3/O-. RWD(O&D)/OBDR PenKnw. Ocrg/KP/YPOK/Renpcw/YOP wnnbw. Eceb 5.75% crhc, cwq 5.625% hnr 500x. EOW cnccp. DRK+50wq. KnKy $101 qcc.;

B&I

BWICS & Inventory

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TRACE

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Research