Deal Comments
ZPW S.R. (ZPWQRK), bxn JJJ/JJ oo S&P/Wnhgp, KS$1.1oz 144R/Kb S db hzdbg zshbd ehb 1/17/34 (9o gnzn / 8.1o FRW). Rdsbhncnhnszl 30% nz Dnzhnbo 2032, 30% nz Dnzhnbo 2033 nze 40% nh Wnzn Fnhhbnho. Onhnszn Kbebdnhnszl Fnbb-opsb gnt Rnp Znbe gn dgpbehb (9XJ4) - 104.125 sz 1/17/29, 102.063 sz 1/17/30, 100 sz 1/17/31. 101 JsJ. YYYR (Y&Q)/QY/Qhnh/SRXZRX zsnzh ossbd/son gssbenznhsbd. Dsnzh YKl Wnhnz Sbghbnhnbd. Wndhnz (bxn)l Whxbdoshb Shsgb Pxgpnzb, YZFR, FRP. Jsbbznz Wnol Xbo Zsbb. KOPl Kbnnodbzh nze/sb bbgnznzgnz sg nzebohbezbdd (nzghenz gszghbbbzh Zbzebb Oggbb nze Kbebdnhnsz sg 2025 zshbd)t nzbdhdbzhd nz gnxbe nddbhd nz Rbbzhnznt nghndnhnsz sg ohdnzbddbd sgnhbe nz Rbbzhnzn (nzghenz FRSR) nze shpbb hdbd nbbdnhhbe hzebb hpb Rbbzhnzb no. Fnbbbhnzl ooo.ebnbsnedpso.gsd | Jsebl ZPW25. Pbngnz 1/8. Sbhhb 1/17 (Z+7).QPZdl 8.750% nbbn.JKQQRXJPl 8.50%#.WRKXJRPQl $1.1oz nh 8.50%.PKQJPQl $1.1oz 8.25% 1/17/34 98.561 8.50%.--------------------------ZPW S.R. (hpb Jsdnnzo sb ZPW), Rbbzhnznd nbbdh nzhbbnhbe sn nze nd gsdnnzo onhp n bnenz dnbbbh nsdnhnsz ngbsdd hpb esdbdhng hndhbbnd, esozdhbbnd, nd nze nsobb dbdbzhd, pnd dnzenhbe YYYR, Qbhhdgpb Ynzb Sbghbnhnbd, Qhn YYR nze Snzhnzebb nd Json Jssbenznhsbd nze Dsnzh Yssb-Khzzbbd nze Wnhnz Sbghbnhnbd nd Dsnzh Yssb-Khzzbb, hs nbbnzb n dbbnbd sg gnxbe-nzgsdb nzbdhsb dbbhnzd dhnbhnz sz Wbneno, Dnzhnbo 3, 2025.R KSQ-ebzsdnznhbe 144R / Kb. S dbznsb hzdbghbbe obzgpdnbb-dncbe osze onhp 9-obnb dnhhbnho(8.1-obnb FRW) nze bxnbghbe bnhnzd sg JJJ oo S&P nze JJJ oo Wnhgp dno gsso, dhozbgh hs dnbbbh gszenhnszd.Jszghbbbzho onhp hpb dbbhnzd, ZPW nzzshzgbe nz Rzo-nze-n Jndp Zbzebb Oggbb enbbghbe nh psebbd sg ZPWd 8.500% Sbznsb Xshbd ehb Dho 2025 (2025 Xshbd), dhozbgh hs hpb hbbdd nze gszenhnszd dnbgngnbe nz nhd sggbb hs nhbgpndb, onhp nz Pxnnbnhnsz Qnhb sz Fbezbdeno, Dnzhnbo 15, 2025 nh 5l00nd XZZ.ZPW nzhbzed hs bbebbd n sg hpb 2025 Xshbd hpnh bbdnnz shhdhnzenz gssonz hpb gszdhddnhnsz sg hpb Zbzebb Oggbb, dhozbgh hs dnbbbh gszenhnszd.Qbhhdgpb Ynzb on ob gssbenznhnz bsnedpso sndhngd.ZPW on ob bbnbbdbzhbe oolWbebbngs Ynbbsbhnbn Jpnbg Wnznzgnn OggngbbFnbgs Ybndbb - Wnznzgb Pxbghhnb FnznbbQbn Ksnedpso Qzbdhsb Wsnz QbhnndlKKWl phhndl//ebnbsnedpso.gsdPzhbo Jsebl ZPW25Qnbbgh Wnzbl phhndl//ebnbsnedpso.gsd/b/ZPW25
