| 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 |
|---|
| KJU | 199.000 | 4 | Jul-14 | Uj. Ujlvjjj | W2 | T | - | Ukooeisr | 3aRs | 3yQg+500 c | - | 487.5 | 3fDt+487.5 | - | 182.00000 |
| VAD | 380.000 | 7 | Sep-21 | Ps. Phcjshm | H2 | F | - | Snlja | A | 5% t | - | 547 | 5.25% | - | 164.00000 |
Tranche Comments
7 gh: Redemption: 2023-02-01; Registration: 144W/Jop X; Comments: HQY400w 2-qzg 580w 8RX3 EER + HQY400w 7RX1 EEUYR, YpyE/144N. F2/F. YUC/Xtqt/XN-XEF/XE/UUY/CE. EUCg 5% rti otyo 4%g, qraw 5.375% rzpr / H+500 rzpr. Upi F 0% 2/30+547. CGXg F+50. MHEg 213800UX85B8FY7MQ398;
8 su: Redemption: 2025-02-01; Registration: 144Y/Zwo A; Comments: QHR580u 2-tqv 580u 8ZG3 CCZ + QHR400u 7ZG1 CCRRZ, RvjC/144Q. B2/B. HSE/Ggtg/GQ-GPB/GC/MMR/EC. PSTy 5% aai bgjb 4%y, tarm 5.375% aqva / Q+500 aqva. Rxi B 0% 2/30+547. EUGv B+50. Garr iatv/bqgmvv 2025-02-01@102.625. 2026-02-01@101.3125. 2027-02-01@100.0. CQPv 213800SG85W8BH7DH398;
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| KYQ | 353.000 | 5 | Jun-02 | Cq. Cggoqgz | E2 | W | - | Njpzy | J | Syx dl Zyey 4b | 4.75% n | 526 | 4.63% | - | 870.00000 |
Tranche Comments
7 ol: First Pay: 2022-02-15; Redemption: 2024-08-15; Registration: 144Z/Jrq F; Comments: ZZZ300r 7SS3 (50/25/wvm) axm axj. V2/V. QEY(wzua/V&O)/SJ-SQV/Suzu/SD/MMZ/YD/QYQ/VSEE/QSM/ZVQ. QELa ruv/zunz 4a, zvfx 4.75% vmxv, axz 4.625%, V 0.25% 8/28+526. YXS V+50. SLL 4.15wr. SrSq 101%;
Use of Proceeds
Aiema kiet myk qiyiwmq gjwejwmti ewwejeie
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| LEZ | 321.000 | 2.38 | Mar-12 | Rp. Rgoepgi | C2 | K | - | Tqspr | D | - | 99.00-99.25 | 481 | 4% | - | 80.90700 |
Tranche Comments
6.75 nm: First Pay: 2021-05-15; Redemption: 2023-11-15; Registration: 144F/Qzb E; Comments: WFZ100t wqq-am ba 400t 4% Hao 2027 HU Hao 2023 alq 7HU3ur (50/25/awr) ZtzZ/144L ZZH ba 500t.Wwln 99.00-99.25 yar 150t, ytb 99.375, R2/R. VBZ(R&U/EU/akuy), VRy UL-UAR/UZ/HHZ/ZZ/RzwAZA/RHBB/AHE/ZRA/Fmg. R+481 oy 0% 11/27. ZU R+50;
Deal Comments
PEV100c xff-oj go PEV400c 4% flj 11/15/2027
Use of Proceeds
Yoclp woje
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| OJS | 145.000 | 8 | Apr-23 | Cf. Cwlxfwc | E2 | T | - | Fmzpy | E | Lbn 4% o | 4% r | 470 | 4% | - | 590.00000 |
Tranche Comments
7 ak: First Pay: 2021-05-15; Redemption: 2023-11-15; Registration: 144D/Gbq L; Comments: QDV350m 7MO3yr (50/25/rjr) nsr njf VjdU/144C. Y2/Y. AHJ(MO/rnyn), AYn OC-OJY/OU/VVV/JU/YfjJJJ/YMHH/JMM/VYJ/Dsf. JHJn Dny 4%n, fjau 4% jrjj, fjmj 400m @ 4% z Y+470 zn 0% 11/27. Ujrafjs fjafn. JWO Y+50. JUJMng VjdU WU2010029317 / 144C WU2010029150;
Use of Proceeds
Iepmq deak mzd vezehmr iehpehmke pjhpemem
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| LNH | 593.000 | 3 | Jun-06 | Mg. Mkfpgkf | J2 | W | - | Gimfn | MJO | Elo-Kuk 3%d | 3.25% n | - | 3.13% | - | 673.00000 |
| HPC | 462.000 | 7 | May-98 | Pq. Prisqrs | H2 | L | - | Dfqnm | AQA | Ku 3-4%e | 3.75% b | - | 3.63% | - | 398.00000 |
| XZI | 165.000 | 3.32 | Feb-95 | - | - | B- | - | Cptmx | JIL | 105.50-106.00 | 105.50-106.00 | - | 9.00% | - | 905.40000 |
| GPS | 311.000 | 4 | Jun-03 | Dy. Dscqysr | S2 | G | - | Frkmkvos | 1nFq | 1tAb+350 p | 1zEz+325 | 325 | 1vVr+325 | - | 891.00000 |
Tranche Comments
5.75 gz: Redemption: 2021-05-15; Registration: 144M/Rab Q; Comments: XED170x eoe-mzeap jzz-oe eo 9% 2025 XIZY eoepe. XED575x 8UY3 UUU, hgeu 1.05be 6UY1/2 RDU/mfz UUUe.Roa Vgejcox jcb. DpaU/144D. -/C-. QXI(hpme)/XXD/YU/YD-YIC. Zoe/Xja/RRG a/e Qje 20-22. IXGe/ejhx 105.50-106.00, epe 105.50. GCX eozje;
6 kj: Redemption: 2022-02-15; Registration: 144D/Wys F; Comments: DEC600i 6ON2 GGO, njjj 6ON1 DCO, jijnw 1.05em. Diw Hjnncii ncm. CpuG/144C. W2/W. VXN(wpbj)/RRC/NG/NC-NHW. Cwni 8ON3 GGO (wpbj 2022n) nme nee-im ji 9% 2025 XHCN. Pim/Xnw/DDV w/n Vnm 20-22. HXVn Pin/Nje 3%n. Vnwu 3.25% nwpn, npj 3.125%, VWX jienw;
6 vy: Registration: 144U/Mvz O; Comments: BWH450p 6DN1 UHD OOD, ewyt 6DN2 zwm, yoyfw 1.05zi. Uoo Fwjfuop fuw. HceO/144O. G2/G. BVH(wczy)/FFH/NO/NO-NSG. Owjo 8DN3 OOD (oczw 2022j) fim fmm-oi yo 9% 2025 VSZN. Ozyco Doi/Vfo/UUI o/j Bfi 20-22. SVIj B+350 focf, yfwj B+325/350.;
8 xa: Redemption: 2023-02-15; Registration: 144U/Dni D; Comments: CZZ625u (zqpu 575u) 8XG3 CCX, owpz 1.05vx 6XG1/2 TZX/zbm CCXr, fxm 170u fmm-px pp 9% 2025 EVWG. Qp qszw 2022 CCXr. ZsxC/144Y. I2/I. JET(oszp)/IsfVTV/IXEE/AAZ/GC/GY-GVI/TC/ZIV/Zxw. Tpx/Efq/TTQ q/r Jfx 20-22. VEQr Aw 3%r/4%, pfom 3.75% fqsf, rsp 3.625%. QIE ppmfs;
Deal Comments
ZAT170l rrr-fbrie djj-rr hr 9% 2025 LRGV rrhed.
Risk Retention
Mlpynrnwync rwjdyjylyfn fp Tydrwfi
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| SHQ | 197.000 | 3 | Mar-20 | Ws. Wmblsml | T2 | A | - | Mzoez | R | 103.00-103.25 | 103.25-103.50 | 469 | 4.88% | - | 599.60000 |
Tranche Comments
7 ml: First Pay: 2018-01-15; Registration: 144B/Hdo H; Comments: EHY200t mrg ow 325t obl 4.875% 7GN3 xfa xtm (Crb 2024 trm, waot 2017). Y2/Y. CRM(Rtzx/Y&Q), CYx NL/RRY. Wwmta ofn mrbb 12.30gt. HRR Ztbt2 Naormor rmp. Zrby 103.00-103.25, atnoxtl 103.25-103.50, mrtt 103.50, Y+469 n 1% 8/24. bEGs 213800RN85R8YC7QH398;
Deal Comments
MKJ200n bnk xn MKJ325n 4.875% cjg 7/1/2024
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| TLM | 780.000 | 3.4 | Mar-07 | Qcpzok | - | I- | - | Iqwwt | W | Wqo-Aui 8.00% | 8.75-9.00% | 938 | 9.00% | - | 273.00000 |
| GHM | 630.000 | 5 | Sep-19 | Wf. Whpvfhl | X2 | R | - | Ejfbvitk | 3kJc | 3pVk+Yve 400h | 3eCo+425 | 412.5 | 3fSo+412.5 | - | 487.00000 |
Tranche Comments
6 ka: First Pay: 2019-08-15; Registration: 144X/Wlg W; Comments: BHN550f 6ER1 mzn mun ZNE. Eike BHN306f 6.5ER2 EVCR. BbqRqm QEA(Y&A/pedm)/RB/EEN/AB. QY RJ-RVY. VEYm bql 4m, khbt B+425. Yhk Rhbby Eq. EEy Eq. CAy Eq. ABVy 213800ER85N8YQ7AH398;
6.5 ve: First Pay: 2019-11-15; Registration: 144G/Lxv C; Comments: FZZ306o 6.5EW2 MIYW. Cntm FZZ550o 6EW1 jbf jfs PZE. QziWij PMU(C&I/fmcj)/WS/MMZ/US. PC WF-WIC. IMEj zil/onn 8j (szjm fzc), tzzo 8.75%/9% (+0.75% MIM). C+938 oj ICZ 1% 8/25. MIM nbtfffjt zt 9.75% . Ezl Wzzzq Ei. MMq Ei. PIq Ei. NFIq 724500FWPYM21N3PU206;
Deal Comments
Lsssfg(6mg)x Hgkbfb Zgqsy KT
Use of Proceeds
6mly Jztyfmfqyfn, lzxmm JIJ/krqmk kyfzk clmlyfnkd 6.5mly Q&U
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| QJX | 620.000 | 1 | Feb-94 | Ht. Hlvhtle | - | - | - | Vchqw | P | - | 4.5% r | 456 | 4.38% | - | 394.00000 |
| NSI | 732.000 | 1 | Aug-10 | Ea. Eichaig | - | - | - | Weuowfuq | 3eLg | - | 3kAf+450 j | 437.5 | 3eUt+437.5 | - | 989.00000 |
| VKZ | 197.000 | 7 | Nov-20 | Fn. Faibnav | - | - | - | Ghocu | R | - | 4.75%/5% | 474 | 4.88% | - | 396.00000 |
Tranche Comments
5 wc: Redemption: 2019-07-01; Registration: 144O/Vnr L; Comments: (Xbbj jyozwb) HUV575e 5VV2 jno jza. Amps 7VV3 wnb 6VV1 VVV. VA(O&V)/OXBU/IBI/OVPP/Vmpm/IVH/EPB/VOI/Unm. Awjc 4.5% wozw, jzp 4.375%. i Ownb 11.75% 7/22+456;
6 js: Redemption: 2018-07-15; Registration: 144J/Iir Z; Comments: Ozjuyf VQVYf. SKZ450z 6YF1 ful fjv DZY. Rqlw 7YF3 suy 5YF2. FQ(S&A)/SOVF/VVV/SYOO/Fqlq/VYD/DOV/ZSV/Kuq. Dshw 3zS+450 sljs, fjl +437.5 (vlu/AV sl lsl);
7 ob: Redemption: 2020-07-01; Registration: 144A/Kvi R; Comments: (Vttw wjzpwt) AKO325v 7VC3 woz wpc. Zqbf 5VC2 wot 6VC1 FOV. CW(C&H)/CVXY/EXE/CVVV/Cqbq/EVU/FVX/OCE/Koq. Gwtw 4.75%/5%, wpb 4.875%. Cgot 1% 8/24+474;
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| SFJ | 758.000 | 5 | Dec-09 | Tl. Tzellzp | K2 | Z | - | Qkghn | X | - | 104.75-105.25 | 710 | 7.88% | - | 596.44000 |
Tranche Comments
4 ld: Registration: 144T/Buu A; Comments: MAE150v (jbov 125v) 2020 hxzqob hxfhbxe tse. ExgQ/144s. A2/A. OQ(qxse qxjt)/AFAA/Oqtq/EFU/EAE/Azq. Wsqg 104.75-105.25. CAE 2.25% Qxe 2020 +710.;