Deal Comments
HENH Hbesio d (HENH), gd eoocg odesio N3/NNN ld Obdno/Xeds (eoocgo odesio S3/S-/S+ (o/o/o)), ZE$2ls EUH ogieodgogb EgodYH5.5 eegb odg ogogd il oclobesdgb sdesigsd sngodelg ogcoedego (SU1). HENH (N&X) og lbo. Ngogd Xdgoz 12/5/30 sb gs eeeds ssengoood bdg dsgogedgo. Xeood dgoebz Xol (sb escbesi) 6/5/30 d (sb escbesi) 12/5/30. Jddes Ngbglddesz Sd Zoocgoupo og beoogdes, es sg (lcd sd es dod), bcoesi sd dgoeb llgsesi s dsg bdg eesi oe gsbo lsdso doeo d Ngogd Xdg sb gsbesi s ocs Ngogd Xdg (lds bdgo escoeng). Usg ddes ogbglddes doeg e lg d do dco sd ocgb sb csdeb esdgogod d (lcd gcbesi) dsg bdg e ogbglddes (gcbesi sd sggb o bgglgb d sng lggs sggb esdgogod). Zsdgogod Ndgz Xol dsg Zoocg Xdg d 12/5/30z eegb odg e %. Usgogedgoz Ngogd s gs Ngogd Xdg d sg eegb odg gc d dsg dogneesi 5 dgo ZEX Uogocod degb +. Beodesiz Sddedes so lggs lbg d eod dsg Egcoedego s dsg Ll Ussig Oobgd e Ucosgd Xcles. Lngosesi Bz Yg Aob , ggdd dsd dsg oclobesdes doneoeso sb dsg engo e ogd-ee doneoeso e lg ingosgb ld dsg o e Usisb sb Ogo. SXZ Ueielgz Z.E. Xgbgo Zslg Udes e Zsdgogod Edlgsdo Oeds Ngodgd d dsg Egcoedego (SXZ geieleedd)z So log ecd bgooelgb es dsg Eogelesod Eoodgdco Ecddglgsd bdgb Od 29, 2025, esdgogod ddlgsdo ld dsg eoocgo eds ogodgd d dsg Egcoedego og igsgod gdgdgb d lg dlg d godes ss-ododg Z.E. sbgoo o ceeegb benebgsb eslg, donebgb dsd dsg ss-ododg Z.E. sbgo lggdo godes sbesi dgoeb ogceoglgsdo sb dsg eoocgo eo sd updooeng eogeis esngodlgsd ldsdup es gedsgo dsg dlg dgo e dsg eoocgo es ses ocs esdgogod ddlgsd eo lbg o es dsg doggbesi dlg dgo. Uocodggz Usg Nsb e Yg Aob Ogs, Bsbs Noss. ZJEz Lgsgo ododg dcodogo sb d lesdes o ecodsgo odogsidsgs edo ded log dcoocsd d ogceoglgsdo csbgo dsg Nggnsd Ncgo (o bgeesgb es dsg Eogelesod Eoodgdco Ecddglgsd). Eoeesi 5/29. Egddg 6/5 (U+5). HZEZEz 404280XS2.ZEUoz 7.625% og.NYEX ZEUoz 7.50% og.LZZXSYHUz 7.05%#.BSZYHHUXz $2ls EgodYH5.5 d 7.05%.ENZHUXz $2ls, 7.05% d 100. Nb-ogogdz U+298.7.JUHUNzNsbesi es ecebdesZsgoo dognecod sngodgb esd obesod osogo, dsg Egcoedego osbz(e) Fcseo d elo e Egseo Hogbedoo (o bgeesgb es dsg Eogelesod Eoodgdco Ecddglgsd),(ee) doe dooc eds dsg lod ogseo oo e dogegogsg osogo sb(eee) ogseo d dsgo oogo e eoocgb osog dedXeoogdesod Zsdgogod EdlgsdoZsdgogod ddlgsdo og ecd beoogdesod, sb ss-clcdengNgodoedeso s Zsdgogod EdlgsdoZsdgogod e sd lg deb es og ez(e) dsg lcsd e Nggnsd Xeodoelcdeso gggbesi dsg lcsd e Xeodoelcdlg Zdglo o e ocs esdgogod ddlgsd bdg,(ee) dsg iiogidg e () esdgogod ddlg es ogodgd e dsg Egcoedego sb (d) sd beodoelcdeso e dsg besb ogegoogb d es Ncg 4.3 (2) e Hsddgo 4 e dsg upHNN Xeolo up Hded Nceegooup Eod e dsg ENS Ncglb (o sd ocggbesi doneoes lgsbesi o ogdesi ocs ocg) gggbesi dsg Oelcl Xeodoelcdlg Slcsd (ee sd) ddelg d dsg Zoocgo o e ocs esdgogod ddlgsd bdg,(eee) dsg Engsd Hsbedes sd lgesi odeoeegb es ogodgd e ocs esdgogod ddlgsd, o(en) dsg Nggnsd Ngicdo obgoesi dsg Zoocgo d sg (es sg o es dod) dsg esdgogod dsgoeog ddlg s ocs esdgogod ddlgsd bdgSbbedes SlcsdoZe ddelg, ddlg eds ogodgd d esdgogod (lcd sd doesed)Edge Ungsd NgbglddesUsg Egcoedego ld lg ogbgglgb es sg (lcd sd es dod) d dsg Zoocgoupo ddes es edo og beoogdes cds dsg coogsg e U Ungsd o Hded Xeoceeedes Ungsd, o bgooelgb csbgo upXgooeddes e dsg Egcoedegoup NgbglddesupEdge Ungsd Ngbglddesup es dsg Eogelesod Eoodgdco EcddglgsdNgoebc HZe dsg cdodsbesi iiogidg doesed lcsd e dsg Egcoedego eo 25% o goo e dsg iiogidg doesed lcsd e dsg Egcoedego oeiesd eoocgb (sb, eo dsgog dcodogo, sd bbedes ogcoedego eoocgb edgo dsg Zoocg Xdg sb soebdgb eds dsg Egcoedego o dod e dsg olg ogoego os lg bgglgb d sng lggs oeiesd eoocgb), dsg Zoocgo ld, d edo ddes es edo og beoogdes, ogbggl dsg oglesesi cdodsbesi Egcoedego es sg (lcd sd es dod) d sd delg d ogbglddes doeg gc d 100% e dsg doesed lcsd e ocs cdodsbesi Egcoedego dco sd ocgb sb csdeb esdgogod d (lcd gcbesi) dsg bdg e ogbglddes, o log ecd bgooelgb csbgo upXgooeddes e dsg EgcoedegoupNgbglddesupNgoebc Hup es dsg Eogelesod Eoodgdco EcddglgsdHded Sbgcd Uoeiigo UngsdupHded Sbgcd Uoeiigo Ungsdup e co ee d sd delg dsg HUU1 Nde eo goo dss 7.0% (soebdgb, edscd dddesi dosoedes doneoeso dsgs es geegd csbgo dsg Nggnsd Ncgo (csgoo dsg Nggnsd Ncgo dsgoeog ogceog o dgoled))Scdlde Hsngooes cds Hded Sbgcd Uoeiigo UngsdSedgo Hded Sbgcd Uoeiigo Ungsd, dsg Egcoedego e lg cdlded sb eoognld sngodgb esd dsg Zoocgoupo obesod osogo d dsg Hsngooes EoegHsngooes EoegZEX dgo Hsngooes Esog (gcengsd d LNE2.70 logb s s gssig odg e LNE/ZEX ), oclgd d godes eledgb sde-becdes bcodlgsdoHsngooes Esogo JeegoXesi Hded Sbgcd Uoeiigo Ungsd, dsg Zoocgo ld ggd d eego olg o e dsg Hsngooes Esogo d olg o e edo obesod osogsbgoo d doeg e LNE2.70 dgo Hsngooes Esog (upHsngooes Esogo Jeego Eoegup), oclgd d godes eledgb sde-becdes bcodlgsdoSiogglgsd eds Ngodgd d dsg Ugoeog e ZJ Ne-es EgozUsg doneoeso es dsg Eogelesod Eoodgdco Ecddglgsd es dsg ogdes upXgooeddes e dsg EgcoedegoupSiogglgsd eds Ngodgd d dsg Ugoeog e ZJ Ne-es Egoup og ddelg
