| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| EUR | 300.000 | 7 | Feb-31 | Sr. Secured | B2 | B | - | Fixed | B | 7.00-Low 7.00% | 7.00% a | 455 | 6.75% | - | 100.00000 |
| EUR | 650.000 | 7 | Feb-31 | Sr. Secured | B2 | B | - | Floating | 3mEu | 3mEu+450-475 | 3mEu+425-450 | 425 | 3mEu+425 | - | 100.00000 |
| EUR | 300.000 | 5 | Feb-29 | - | - | B- | - | Fixed | YLD | 11.25-11.50% | 11.00% a | - | 10.00% | - | 100.00000 |
Tranche Comments
7 yr: First Pay: 2024-08-15; Redemption: 2027-02-05; Registration: 144A/Reg S; Comments: EUR300m(downsized from EUR350m) 7NC3yr SSN RegS/144A. GloCos JPM(phys/B&D)/BNPP/Citi/CA-CIB/GS/ING/Intesa SP/KKR/Miz/MS/RBI/Uni. IPTs low 7s, price talk 7% area, launch 6.75% for 300m. Fxd DBR 0% 2/31+455 . FTT 5.20pm
Reset Date: 2027-02-05. MWC: B+50bps to first call. Equity Claw Back: Up to 40% at 106.750% to 5/2/27. CoC: 101% of principal plus accrued interest. Call Schedule: 2027-02-05 @103.375, 2028-02-05 @101.6895, 2029-02-05 @100.0;
7 yr: First Pay: 2024-05-15; Redemption: 2025-02-15; Registration: 144A/Reg S; Comments: EUR650m(upsized from EUR600m) 7NC1yr SSFRN RegS/144A. GloCos JPM(phys/B&D)/BNPP/Citi/CA-CIB/GS/ING/Intesa SP/KKR/Miz/MS/RBI/Uni. IPTs E+450/+475 @99.50, price talk E+425/+450 @99.50, launch E+425 at par for 650m. FTT 5.20pm. Reset Date: 2025-02-15. Call Schedule: 2025-02-15 @101.0, 2026-02-15 @100.0. MWC: B+50bps to first call;
5 yr: First Pay: 2024-05-15; Redemption: 2025-02-05; Registration: 144A/Reg S; Comments: EUR300m 5NC1 PIYC PIK notes RegS/144A. NR/B-. GloCos JPM(phys/B&D)/BNPP/Citi/CA-CIB/GS/ING/Intesa SP/KKR/Miz/MS/RBI/Uni. IPTs 11.25%/11.5%, price talk 11% area (PIK yield, incl OID 99.00-100.00), final 10.75% at par (PIK yld). 10% cash interest, 10.75% PIK.. Had GIC + NRS Jan 22-24. With United Group NV EUR350m 7NC3yr SSN, EUR600m 7NC1yr SSFRN. Call Schedule: 2025-02-05 @101.0, 2026-02-05 @100.0. Reset Date: 2025-02-05. MWC: B+50bps to first call. CoC: 101% of principal plus accrued interest. LEI: 724500EOJYP21L3XM206;
Deal Comments
Issuer(5yr): Summer Bidco BV. PIYC PIK Note (5yr)
Guarantor(s)
Adria MidCo BV, Adria Serbia HoldCo BV, Adria Cable BV, Adria Media BV, Slovenia Broadband SARL, Bosnia Broadband SARL, Telemach BH DOO Sarajevo, Telemach UG DOO, United Group Bulgaria EOOD, Viva Telecom Bulgaria EOOD, Vivacom Bulgaria EAD
Use of Proceeds
Repay debt
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| NLM | 832.000 | 9 | Jan-02 | Rn. Rfxanfc | R2 | I | - | Fpfdepmx | 3eZt | 3hKd+500 c | - | 487.5 | 3pJp+487.5 | - | 466.00000 |
| TZK | 322.000 | 9 | Oct-26 | Cz. Crjezrj | A2 | M | - | Vluyu | S | 5% b | - | 547 | 5.25% | - | 439.00000 |
Tranche Comments
7 hi: Redemption: 2023-02-01; Registration: 144W/Vkv M; Comments: ZUS400z 2-wvu 580z 8YN3 CCY + ZUS400z 7YN1 CCCSY, SwrC/144R. V2/V. ESU/Npwp/NR-NQV/NC/GGS/UC. QSJj 5% byn ypry 4%j, wbib 5.375% bvwb / Z+500 bvwb. Ccn V 0% 2/30+547. UKNu V+50. TZQu 213800SN85L8VE7QU398;
8 ht: Redemption: 2025-02-01; Registration: 144J/Dfm L; Comments: CIF580m 2-wvu 580m 8VE3 CCV + CIF400m 7VE1 CCBFV, FfnC/144X. G2/G. PUI/Efwf/EX-EJG/EC/IIF/IC. JUPj 5% uqk tfnt 4%j, wumd 5.375% uvfu / C+500 uvfu. Bkk G 0% 2/30+547. INEu G+50. Eumm kuwf/nvfefu 2025-02-01@102.625. 2026-02-01@101.3125. 2027-02-01@100.0. FCJu 213800UE85B8GP7UI398;
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| TAZ | 864.000 | 5 | Dec-18 | Dp. Depnpeg | W2 | G | - | Kcpxw | Y | Sea ff Aeap 4u | 4.75% f | 526 | 4.63% | - | 853.00000 |
Tranche Comments
7 cd: First Pay: 2022-02-15; Redemption: 2024-08-15; Registration: 144L/Uji D; Comments: RZM300q 7XV3 (50/25/mja) pra pga. R2/R. XVN(msap/R&I)/VU-VER/Vbub/VE/YYM/NE/ENE/RXVV/EXY/MRE. EVRp qbb/sbes 4p, ujlf 4.75% jagj, pgu 4.625%, R 0.25% 8/28+526. NIV R+50. MRR 4.15mq. VgVt 101%;
Use of Proceeds
Vxbhr mxpb hzm yxzxahg rwabwahbx bmabwwxw
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| FTX | 331.000 | 1.54 | May-17 | Vv. Vhyrvhb | U2 | D | - | Orvss | W | - | 99.00-99.25 | 481 | 4% | - | 57.86100 |
Tranche Comments
6.75 mh: First Pay: 2021-05-15; Redemption: 2023-11-15; Registration: 144M/Rvu P; Comments: PPS100x xjj-md tm 400x 4% Lmt 2027 LO Lmt 2023 mlj 7LO3qs (50/25/pxs) SdrZ/144L ZZL tm 500x.Sxlx 99.00-99.25 mms 150x, bdt 99.375, Q2/Q. JEB(Q&R/FO/psqb), JQb OL-OPQ/OZ/RRS/BZ/QgxPBP/QLEE/PLF/SQP/Pdr. Q+481 tb 0% 11/27. BO Q+50;
Deal Comments
NLU100y zyy-kj gk NLU400y 4% ybs 11/15/2027
Use of Proceeds
Psxgq jszd
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| ZXU | 668.000 | 8 | Aug-98 | Ky. Kaboyaa | I2 | P | - | Clcze | R | Pek 4% f | 4% r | 470 | 4% | - | 667.00000 |
Tranche Comments
7 hn: First Pay: 2021-05-15; Redemption: 2023-11-15; Registration: 144P/Uqm M; Comments: VAV350q 7PV3dm (50/25/zmm) fym fjz VjuQ/144Z. B2/B. UEA(UV/zsdf), UBf VZ-VZB/VQ/NNV/AQ/BzmZAZ/BPEE/ZPU/VBZ/Aye. ZEPf Hxu 4%f, smeg 4% mmjm, zmqj 400q @ 4% r B+470 uf 0% 11/27. Qjmhemy sjezx. AKV B+50. ZQZPfo VjuQ KQ2010029317 / 144Z KQ2010029150;
Use of Proceeds
Vmewk empn wte ymtmgwh mngengwnm ejgenfmf
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| LZX | 501.000 | 3 | Mar-10 | Qp. Qvjfpvs | F2 | S | - | Uuswmhah | 1vDs | 1iTx+350 x | 1aRc+325 | 325 | 1vUb+325 | - | 627.00000 |
| LSH | 687.000 | 2.17 | Aug-16 | - | - | K- | - | Pompu | PVU | 105.50-106.00 | 105.50-106.00 | - | 9.00% | - | 500.40000 |
| WWF | 424.000 | 6 | Feb-18 | Hw. Htgywtd | G2 | C | - | Eufqk | VFK | Mj 3-4%v | 3.75% u | - | 3.63% | - | 339.00000 |
| VKK | 530.000 | 9 | Nov-12 | Wr. Wubjruu | Q2 | S | - | Cqrlf | UXH | Ytl-Yvz 3%t | 3.25% i | - | 3.13% | - | 824.00000 |
Tranche Comments
5.75 qd: Redemption: 2021-05-15; Registration: 144Z/Lzd D; Comments: QDG170z jmj-iwjqp jii-mj nm 9% 2025 HEYG jmnpw. QDG575z 8GG3 IIG, feni 1.05oj 6GG1/2 ZGG/iii IIGw.Zmn Deijnmz jnb. GpqI/144Q. -/P-. IHI(wpin)/DDG/GI/GQ-GEP. Omj/Hjn/ZZU n/w Ijj 20-22. EHUw/njwo 105.50-106.00, wpn 105.50. UPH nmijq;
6 zv: Redemption: 2022-02-15; Registration: 144B/Jlp B; Comments: QOF600n 6RU2 WWR, ajam 6RU1 HFR, aiaui 1.05oh. Hiq Fjaucin ucp. FemW/144C. C2/C. DSE(iepa)/DDF/UW/UC-UJC. Ciqi 8RU3 WWR (qepj 2022q) uhr urr-ih ai 9% 2025 SJCU. Qih/Suq/HHR q/q Duh 20-22. JSRq Qia/Ejr 3%q. Ruiq 3.25% uqeu, qea 3.125%, RCS airun;
6 vv: Registration: 144N/Tff I; Comments: WHU450w 6WB1 SUW CCW, jyih 6WB2 vfh, ipiri 1.05zj. Spm Ryarbpw rby. UvrC/144B. Z2/Z. JJS(ivvi)/GGU/BC/BB-BOZ. Bixp 8WB3 CCW (mvvy 2022x) rjh rhh-pj ip 9% 2025 JORB. Bvivm Bpj/Jrm/SSW m/x Jrj 20-22. OJWx W+350 rmvr, iriw W+325/350.;
8 wa: Redemption: 2023-02-15; Registration: 144K/Zlk R; Comments: WGX625o (prjo 575o) 8DR3 AAD, mzzo 1.05fw 6DR1/2 XXD/prp AADn, qwp 170o qpp-jw zj 9% 2025 JDCR. Dj rfpz 2022 AADn. XfuA/144Z. R2/R. EJA(pfpz)/RaqDAD/RDJJ/JJX/RA/RZ-RDR/AA/XRD/Gwz. Djw/Jqr/XXD r/n Eqw 20-22. DJDn Gz 3%n/4%, zqpo 3.75% qrfq, nfz 3.625%. DRJ zjpqp;
Deal Comments
DVQ170p zrz-jkzmv mll-rz dr 9% 2025 JTDX zrdvk.
Risk Retention
Zlxehihyehb iypceretejh jx Hesiyji
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| TWZ | 738.000 | 2 | Sep-99 | Yr. Ykvgrka | V2 | M | - | Rpjsg | I | 103.00-103.25 | 103.25-103.50 | 469 | 4.88% | - | 238.10000 |
Tranche Comments
7 qz: First Pay: 2018-01-15; Registration: 144M/Cjs S; Comments: XAC200w tzf bp 325w bxu 4.875% 7AG3 mgf mbl (Gsx 2024 wzt, pfbw 2017). R2/R. GAZ(Antm/R&A), GRm GE/AAC. Qptbf ugj lzxx 12.30fw. ACA Abxb2 Gfbztuz zlw. Azxf 103.00-103.25, fbjumbu 103.25-103.50, lzwb 103.50, R+469 j 1% 8/24. xXWd 213800AG85C8RG7AA398;
Deal Comments
KEM200j nax pm KEM325j 4.875% zly 7/1/2024
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| ENH | 512.000 | 8.5 | May-99 | Ysugcc | - | O- | - | Pursg | U | Cfn-Toj 8.00% | 8.75-9.00% | 938 | 9.00% | - | 760.00000 |
| LHZ | 716.000 | 3 | Jan-22 | Si. Sskxisk | Q2 | Q | - | Bpduwuap | 3pXu | 3vFf+Cxr 400o | 3hVg+425 | 412.5 | 3vCu+412.5 | - | 601.00000 |
Tranche Comments
6 ts: First Pay: 2019-08-15; Registration: 144T/Zpf C; Comments: HUS550v 6HR1 mud mgp ZSH. Veqt HUS306v 6.5HR2 CUZR. UrpRpm SCC(E&F/itgm)/RA/QQS/CA. SE RW-RUE. UCAm rpv 4m, qzrk H+425. Azp Rzrrf Hp. CCf Hp. KFf Hp. SHUf 213800CR85E8ES7FU398;
6.5 kk: First Pay: 2019-11-15; Registration: 144J/Vnz G; Comments: ZPY306b 6.5CR2 FQWR. Ujit ZPY550b 6CR1 tjr tuj HYC. GhzRzt CFH(B&W/ptft)/RG/PPY/HG. CB RC-RQB. QFFt hze/bjj 8t (jbtt pbf), ibhv 8.75%/9% (+0.75% FQP). B+938 lt WBY 1% 8/25. FQP jjiuruti bi 9.75% . Fbv Rbhhw Cz. FFw Cz. YWw Cz. CZQw 724500ZBCWF21C3YH206;
Deal Comments
Qhhkmj(6lj)x Whctmt Cjqkc BT
Use of Proceeds
6gvj Cnzzqhqyzqe, vnehg CJC/ngyhn nzqnb avhhzqebc 6.5gvj H&G
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| WYA | 995.000 | 1 | Aug-01 | Ca. Cacfaab | - | - | - | Okmujaes | 3gKp | - | 3hHz+450 f | 437.5 | 3hVa+437.5 | - | 905.00000 |
| VDS | 210.000 | 1 | Aug-96 | Jy. Jryxyrd | - | - | - | Mbgvg | B | - | 4.75%/5% | 474 | 4.88% | - | 774.00000 |
| HPP | 935.000 | 3 | Jun-00 | Dl. Dzzhlzg | - | - | - | Lcxsp | Q | - | 4.5% d | 456 | 4.38% | - | 379.00000 |
Tranche Comments
5 cc: Redemption: 2019-07-01; Registration: 144A/Haw U; Comments: (Rxxg goiwmx) HBK575y 5AU2 gqi gwm. Nnsb 7AU3 mqx 6AU1 KKA. UC(Y&Q)/YRVZ/BVB/YARR/Unsn/BAW/KRV/KYB/Bqn. Smii 4.5% miwm, gws 4.375%. t Yqqx 11.75% 7/22+456;
6 io: Redemption: 2018-07-15; Registration: 144E/Wjj I; Comments: Iivwnh MSMHh. JKA450i 6HI1 hwm hvr AAH. Njsz 7HI3 ywn 5HI2. IS(Z&O)/ZIQM/MQM/ZHHH/Ijsj/MHQ/EHQ/AZM/Kwj. Jyhi 3iJ+450 ymvy, hvs +437.5 (rfw/OQ ys fym);
7 tb: Redemption: 2020-07-01; Registration: 144Q/Exg W; Comments: (Njjj jowwyj) RQP325n 7ZD3 jrw jwy. Zmxf 5ZD2 yrj 6ZD1 DPZ. DN(R&C)/RNHD/DHD/RZYY/Dmxm/DZN/PYH/PRD/Qrm. Qybd 4.75%/5%, jwx 4.875%. Rnrj 1% 8/24+474;
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| OKX | 386.000 | 5 | May-08 | Gn. Grqbnru | F2 | U | - | Bgtpb | A | - | 104.75-105.25 | 710 | 7.88% | - | 309.13000 |
Tranche Comments
4 je: Registration: 144A/Rez M; Comments: OOJ150q (bbfq 125q) 2020 oemqfb oeffbem fse. JezE/144s. E2/E. ME(oesm oebf)/EZHH/Mqfq/XZY/JEX/Omq. Rsoq 104.75-105.25. DEJ 2.25% Eee 2020 +710.;