8 yr: Redemption: 2023-10-01; Registration: 144A/Reg S; Comments: US$600m 9.50% cpn 8yr (10/01/28) NC3 (10/01/23) at 100.00, yld 9.50%. Spread: T+899bp. MWC T+50bp. Standard Call: Callable on Oct 01, 2023 at 104.750%, Oct 01, 2024 at 102.375%, Oct 01, 2025 and thereafter at 100.00%. Up to 40% at 109.5% until Oct 01, 2023. Equity clawback: Up to 40% until 2023.;
Deal Comments
In 2004, MacAndrews & Forbes Holdings, Inc. and The Renco Group, Inc. formed a joint venture to own and operate AM General.
Use of Proceeds
Acquisition Financing Proceeds will support the acquisition of the Company by affiliates of KPS Capital Partners.