Deal Comments
Yllp Yccpeobi L.Q. (YQPPXQ), cpp Z3/ZZZ- c Baabcqb/Uoeeo, ML$500e (a cpac) 144Q/Acc L 7c bp aecb bbc 1/30/32. BPX eoc 2eab pp ell. Tp ell. MZ/YXB/Le (Z&M) laoe eeoqc aacb. Pobeoc (cpp) Locpapc Leaec Speocc. MUX (o) Ubb eoc Tcbcp Ucp b ea pc pclecb ccb, ppceobeb, b cppcbcb. L, allacoc eoc eabbeeeoa a eoc Tcbcp Ucp, c 2026 Eaecb pceo abebeboc, pceooc ce ppaeccbb coll c bbcb ea pcbcce bbeo 2026 Eaecb qo Bcc Poalc Xll b (oo) Ubboc eoc eabepbeeoa a Lbc ppalcee, oelbboc eoc pcpcece a abebeboc appacocb bbcp Zpobcc Pa Ueoloec. Toc pceobcp, o c, coll c bbcb ap cccpl eappapec pbppabcb. Bpcceoc ccc.bclpabboac.eae | Xabc YQPPXQ2025. Xpoeoc 1/27. Lceelc 1/30 (T+3).LXTb T+200 pc.YMLMQEXS T+170 pc (+/- 5).PQMEXRSM $500e 7c e T+163.XALXSM $500e 5.875% 1/30/32 98.985 6.055% T+163. BP+25.--------------------------------------------------------------------------------Yllp Yccpeobi L.Q. (Yllp), eoc lpccbe ccpcc cccpeoa eaepc o Xcpb, coeo 1.8YP papealoa a cccpeoa epeoec eoe oelbbcb eaeocb ecelcb, ocbpa, b ZSLL bbceb, lac coeo balp ppalcee bbcp eabepbeeoa, pecb Z3 c Baabcb b ZZZ- c Uoeeo, ob ebecb Mcbebeoc Zc, Y.X. Bapc, b Lebcp b Yaoe Zaacpbcpb ea ppcc bcpocb a opcb oeaec oqcbeap qopebl ecceocb bepeoc a Ybpc 21be, 2025.Q cc oecpecboec-eebpoec MLM-bcaeoecb 144Q / Acc L ceoepc-bocb bcoap bbcebpcb acpoc ec allac, bblcee ea epcce eaboeoab.Xaebppcelc, acp ea pbpeobc ap ebo c-b-ll a Yllpb abebeboc MLM-bcaeoecb 4.875% Lcoap Eaecb bbc 2026 ob cc abecb. Toc ecbcp acp coll cppopc e 500 XB ST a Ybpc 27eo, 2025, coeo c a-ecbcpcb aecb cppceecb ea c pcbccecb o eeapbec coeo eoc pclecb obcebpc. Toc Yaoe Zaacpbcpb pc lba eeoc b Mclcp Bccpb o eoc ecbcp acp.Y.X. Bapc coll c eaapboeoc lacobeoeb.Toc obbbcp coll c pcppcbcecb cAab Bpo Ulapcb Qpa, XSU a YllpQpebpa Lolq-Leobec, XUU a YllpLbp Ralec, Xappapec Uoec HX a LcoLqcbeap Paco MceolbMAP oeepb//bclpabboac.eaeSepc XabcYQPPXQ2025Mopcee Poc oeepb//bclpabboac.eae/c/YQPPXQ2025
