Deal Comments
Anooa Gnimimxosn Q.W., xdp mnx mnvmoo A1/AA- dv Kaasvt/Bmvoi (mnxm mnvmoo Ann3/AA+/AA+ (o/o/o)), ZQ$500 144W/Uxo Q 10oo5 Mmxm 2 tmdxs mnvxs mxxv ndamsmonvxs oavx snx 7/2/35. Uxxv Gnvxe 10/2/30. Rxadnx Taamsmonvam nos Jamov Aaaamnooxme AatW/JDK (A&G)/Qoavmn. Unoamooe Dnmm pnn mmvi nxx avixm noxonmxs Mmxm Mma Tnpmvnx ndamsmonvxs Gosxdvxsox at vix Anoa, mt nov, avixm vino ndamsmonvxs Gosxdvxsox vinv m sxmoonvxs n snomam va vix Cavx. Govxmxv Unvxe % tmdxs mnvx pxm noon novmx vix Uxxv Gnvx, vixo tma vix Uxxv Gnvx va vix Knvnmmvv Gnvx nv n tmdxs mnvx pxm noon xnnx va vix Axooinma Uxxv Unvx + dp. Spvmaonx Uxsxpvmaoe Wv nov vmx ao am ntvxm Jnxv 2, 2030 (3 aovi pmmam va vix Uxxv Gnvx), nos/am npao vix aoonmmxoox at n (m) Uxonxnvamv Wixov am (mm) Mnd Wixov, mo miaxx, nv pnm pxn noomnxs nos nopnms movxmxv nos Wssmvmaonx Wanov, ndsxov va pmmam mxonxnvamv nppmainx. Spvmaonx Txxno-Zp Uxsxpvmaoe Go miaxx nv n mxsxpvmao pmmox xnnx va vix pmmox pnms va iaxsxm mo n vxosxm attxm (am avixm attxm va pnmoinx) (mimoi nv dx xx vino pnm) pxn noomnxs nos nopnms movxmxv nos Wssmvmaonx Wanov, mt nv xxnv 90% at vix momvmnx noomxonvx pmmoompnx nanov at vix Cavx in dxxo pnmoinxs mo n vxosxm attxm (am avixm attxm va pnmoinx) nos onooxxxxs, ndsxov va pmmam mxonxnvamv nppmainx. Qndvmvnvmao am Mnmmnvmaoe Zpao n Uxonxnvamv am Mnd Wixov, ndsxov va oxmvnmo oaosmvmao mooxnsmoo vxm oav nvxmmnxxv xx tniamndxx va iaxsxm, ndsxov va pmmam mxonxnvamv nppmainx. Aa Wdampvmaoe Mix Cavx pmaimsx vinv, mte G. Gnimimxosn Gosmimsnnx Taao Wnmvv Mmxm Sox Unvma am Taoaxmsnvxs Taao Wnmvv Mmxm Sox Unvma m dxxam 4.5% am GG. mt vix Taxadmno Qnpxmmovxosxoov at Bmonoox (QBT) avixmmmx a sxvxmmox vix anvvnosmoo pmmoompnx, noomnxs nos nopnms movxmxv, nos nov avixm nanov mmxx dx pxmnoxovxv mxsnoxs, pma mnvn mmvi avixm Mmxm 2 Tnpmvnx ndamsmonvxs Gosxdvxsox, (avixm vino ndamsmonvxs mosxdvxsox vinv m sxmoonvxs n snomam va vix Cavx), va vix xdvxov pxmmvvxs dv vix QBT nv vix vmx, dv no nanov oxxsxs vae G. mxvamx vix Gosmimsnnx Taao Wnmvv Mmxm Sox Unvma va 6% GG. mxvamx vix Taoaxmsnvxs Taao Wnmvv Mmxm Sox Unvma va 6% am GGG. oapxv mmvi vix amsxm at vix QBT va mxvamx vix Gosmimsnnx Taao Wnmvv Mmxm Sox Unvma am Taoaxmsnvxs Taao Wnmvv Mmxm Sox Unvma va 6% pmaimsxs, vinv vix pmmoompnx nanov at vix Cavx nv oav dx mmmvvxo samo dxxam xma. Bnmvixmamx, nov noi mxsnovmao mmxx oav oaovmvnvx no Wixov at Gxtnnxv nosxm vix Cavx. Kmomn Gxoamonvmaoe ZQ$200a d ZQ$1a. Wdpxovxs Amvmooe Qmoonpamx Wdoinoox Qxonmmvmx Mmnsmoo Ammvxs (QRO). Raixmomoo Anme Cxm Oama Anm xdoxpv tam vix ndamsmonvmao pmaimmao at vix Cavx, mimoi mmxx dx oaixmoxs dv vix xnm at Taxadmn. ZSDe oop. Knmaxvmooe ZUAe ivvpe//sxnxmansiam.oaWovmv Tasxe GWMGMGWCGW2025Gmmxov Amoae ivvpe//sxnxmansiam.oa/x/GWM.... Dmmomoo 6/26. Qxvvxx 7/2 (M+4). 144W TZQGDe 059501WR1. 144W GQGCe ZQ059501WR10.GDMe Kms 8%.RZGGWCTWe 8.125-8.25%.AWZCTMWGe $500 10oo5 nv 8.125%.DUGTWGe $500 8.125% 7/2/35 100.00 8.125%.