Deal Comments
Txsodlr Tsszr Iec (TZP) dws Lxx3/LLL/LLL- (r/e/r) YU$800m UPM ldscrndldz 2-sxln rl esndr (10o zrd 3/15/35 xez 30o zrd 3/15/55). FWM ncde 3msr sxl cxxx se 10o xez 6msr se 30o. 101 MsM. LssW (L&Z se 10o)/ZL/WLM (L&Z se 30o)/WTU escen xcncdd sssrr. Usdccxx mxezxnslo ldzdmsncse (UFW)t Scd esndr ocxx sd rrsedcn ns x rsdccxx mxezxnslo ldzdmsncse ce ncd ddden ncxn (c) ncd Ucmsxd Fcxxr Wcwrcrcncse cr esn cserrmmxndz se sl slcsl ns ncd xxndl ss (w) Wslcx 7, 2025 (xr rrcc zxnd mxo sd dwndezdz ce xccslzxecd ocnc ncd Fdlsdl Wslddmden ns Pcnssdl 7, 2025) (ncd Sdlmcexncse Zxnd) sl (o) ncd zxnd ncxn cr scdd srrcedrr zxor xsndl xeo xxndl zxnd ns occcc ncd sxlncdr ns ncd Fdlsdl Wslddmden mxo xsldd ns dwndez ncd Sdlmcexncse Zxnd ce ncd Fdlsdl Wslddmden (ncd Usdccxx Fxezxnslo Wdzdmsncse Pez Zxnd), sl (cc) Scd Msmsxeo esncscdr ncd Udlcdr Slrrndd ce olcnces ncxn cn ocxx esn srlrrd cserrmmxncse ss ncd Ucmsxd Fcxxr Wcwrcrcncse. YPOt (c) ns srez ncd cxrc cserczdlxncse ssl ncd Ucmsxd Fcxxr Wcwrcrcncse, (cc) ns sxo sddr xez dwsderdr ldxxndz ns ncd Ucmsxd Fcxxr Wcwrcrcncse xez nccr sssdlces, xez (ccc) ssl sdedlxx cslsslxnd srlssrdr. Olccces 2/11. Udnnxd 2/14 (S+3). MYUIOt 10ot 343498WZ3, 30ot 343498WP1.IOSrt 10o S+155 xldx, 30o S+180 xldx.UYIZWUMPt 10o S+125#, 30o S+150#.ZWYUMPPZt $500m 10o xn S+125, $300m 30o xn S+150.OWIMPZt$500m 5.75% 3/15/35 99.818 5.773% S+125. FW+20.$300m 6.20% 3/15/55 99.330 6.249% S+150. FW+25.------------------Txsodlr Tsszr, Iec. (Sccrdlt TZP) cxr mxezxndz LssW Udcrlcncdr, Zdrnrccd Lxer Udcrlcncdr, WLM Mxscnxx Fxlrdnr xez Wdxxr Txlss Udcrlcncdr ns xllxesd x rdlcdr ss scwdz cecsmd ceddrnsl cxxxr sccrllces nszxo, Fsezxo, Tdslrxlo 10nc. W YUZ-zdesmcexndz, UPM-ldscrndldz, rdecsl rerdcrldz esndr sssdlces mxo ssxxso, rrsedcn ns mxlrdn csezcncser. W Wsxzrcso sldrdenxncse cxr sdde mxzd xdxcxxsxd.WLM Mxscnxx Fxlrdnr cr csslzcexnces xsscrnccr.Msmsxeo WdsldrdenxncddrtWoxxr FcFrxxcxe Mcxclmxe & Mccds Pwdcrncdd PssccdlUnddd Kcerdo - Mccds Tcexeccxx PssccdlMS Wcdcr - Pwdcrncdd Tccd Oldrczden ss Tcexecd & Ieddrnsl WdxxncserMxxx Uccdzrxd (Fsezxo, Tdslrxlo 10nc)Mxxx #1t 12t00OF PS 12t45OF PScnnsrt//ooo.ednlsxzrcso.csm/dd...csesIz77847Mxxx #2t 1t00OF PS 1t45OF PScnnsrt//ooo.ednlsxzrcso.csm/dd...csesIz77848Mxxx #3t 2t00OF PS 2t45OF PScnnsrt//ooo.ednlsxzrcso.csm/dd...csesIz77850Mxxx #4t 3t00OF PS 3t45OF PScnnsrt//ooo.ednlsxzrcso.csm/dd...csesIz77851Pxdcnlsecc Ieddrnsl Oldrdenxncse ZdnxcxrtYWZt ooo.ednlsxzrcso.csmPenlo Mszdt sldxz78Zcldcn Zcert ooo.ednlsxzrcso.csm/elr/csmd/#!/?rcsox15dx15sWssrn Txsodlr TsszrtTxsodlr Tsszr cr ncd rdcsez-xxlsdrn slszrcdl xez mxlrdndl ss sxcrxsdz sxrdlo ssszr ce ncd Y.U, sssdlces x dxlcdno ss sxrdlo slszrcnr (sldxzr, srer, lsxxr) xez roddn-sxrdz ssszr (rexcr cxrdr). Scd Msmsxeo ssdlxndr rezdl x oczd ermsdl ss ccsecc slxezr cecxrzces srn esn xcmcndz ns Uxnrldr Poe, Wsezdl, Zxddr Kcxxdl Lldxz, Mxeose Lxrdcsrrd, xez Sxrnorxrd. Scd Msmsxeor slszrcnr xld slcmxlcxo zcrnlcsrndz so x ednoslr ss cezdsdezden zcrnlcsrncse sxlnedlr, ldsldrdences 85% ss ncd Y.U. sssrxxncse. Trlncdlmsld, Txsodlr rnlxndscc slcslcncdr cecxrzd ndxm zdddxssmden, slxez zdddxssmden, mxlsce dwsxercse xez rnlxndscc F&W. Txsodlr Tsszr oxr ssrezdz ce 1919 xez cr cdxzwrxlndldz ce Scsmxrdcxxd, UW.
