| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| EUR | 750.000 | 5 | Jul-26 | Sr. Secured | B3 | B | B+ | Fixed | B | Low 4%s | 4% a | 444 | 3.88% | - | 100.00000 |
| EUR | 650.000 | 5 | Jul-26 | Sr. Secured | B3 | B | B+ | Floating | 3mEu | Low 4%s | - | 400 | 3mEu+400 | - | 100.00000 |
| EUR | 310.000 | 6 | Jul-27 | Sr. Unsecured | Caa1 | CCC+ | CCC | Fixed | B | High 5%s | 5.5% a | 588 | 5.38% | - | 100.00000 |
Tranche Comments
5 yr: Redemption: 2023-07-01; Registration: 144A/Reg S; Comments: EUR750m 5NC2 SLB SSN. With 5NC1 SLB SSN FRN, total 1.4bn, + 310m 6NC2 SLB SN. RegS/144A. B3/B/B+. GCs CS(struc)/GS(struc)/JPM(B&D)/MS, JBs DB/HSBC/Natx. IPTs low 4%s, talk 4% area for 800m+, final 750m at 3.875%. B+444 vs 0% 8/26, MWC B+50. FTT 5pm. Issuer: Picard Groupe SAS. CoC: 101%;
5 yr: Redemption: 2022-07-01; Registration: 144A/Reg S; Comments: EUR650m 5NC1 (101/par) SLB SSN FRN. With 5NC2 SLB SSN, total 1.4bn, + 310m 6NC2 SLB SN. RegS/144A. B3/B/B+. GCs CS(struc)/GS(struc/B&D)/JPM/MS, JBs DB/HSBC/Natx. IPTs low 4s, talk E+400 / 0% / 99.75-100.00 for 500m+, final 650m at E+400 / 0% / 100, MWC B+50. FTT 5pm. Issuer: Lion Polaris Lux 4 SA. CoC: 101%;
6 yr: Redemption: 2024-01-01; Registration: 144A/Reg S; Comments: EUR310m 6NC2 (50/25/par) SLB SN. With 1.4bn 5NC2 fxd, 5NC1 FRN SLB SSNs. RegS/144A. Caa1/CCC+/CCC+. GCs CS(struc/B&D)/GS(struc)/JPM/MS, JBs DB/HSBC/Natx. IPTs high 5%s, talk 5.5% area, launch 5.375%. B+588 vs 0.5% 8/27. MWC B+50. FTT 5pm. Issuer: Picard Bondco SA. CoC: 101%;
Deal Comments
Sustainability-Linked Bond. Joint Bookrunners: JPM(B&D) (5yr fxd), GSC(B&D) (5yr float), CSG(B&D) (6yr), MOS, DEU, HSB, NAT
Use of Proceeds
Redeem notes
| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| IHH | 815.000 | 5 | May-15 | Kunnft | Nii1 | I- | RRR | Kqbzl | R | - | 5.25-5.5% | 562 | 5.50% | - | 534.00000 |
Tranche Comments
7 qo: Redemption: 2020-11-30; Registration: 144W/Pea S; Comments: HIK310f 7XU3 sno. Grvz HIK1.19mn 6XU1 YKX. Hjz Uss1/H-/UUU+. UVY(zzss)/HXVV/UF/WFHU. Hswt 5.25%/5.5%. OHK 1% jtn Etntsv 15, 2024 +562mz;