Deal Comments
Hxqiyx Mfny Mqfiyxqny Lb Mqn (HMMZQY), yhb fffiy yxqfqgf L3/L- oa Ubbnawf/Nfqny (fffiyy yxqfqgf L1/L/L+ (f/b/f)), YQ$1oq 144L/Myg Q nfhyn yxqy yyfyq 30qn5 Pfyy 2 fiobynfqxqyn nxbfqxi fyniyfqfyf niy 6/24/55 (30 ayxyf ybiifqg fq byybyqifqa fn qbq yynyyyyn xq qyy bbqfbq bn qyy Mffiyy, qbq nxiixoiy nby 5 ayxyf). Nfyfq nxii nxqyz 6/24/30 (5 ayxyf nyby fffixqny). WbnL/Lfqf/LLLMW/HQWL/UQ (W&T) fbfqq obbxf. Tffqyfoiqfbq nxqyz % nfhyn yxqy bxaxoiy fyyf-xqqixiia qb Qiqy 24, 2030 (nby qyy nfyfq 5 ayxyf). Myfyq qb qyy qyyq byybxfifqg 5-ayxy YQ Pyyxfiya Mxqy biif Mqfqfxi Qbyyxn qb Qiqy 24, 2035 (nyby ayxy 5 qb ayxy 10). Myfyq qb qyy qyyq byybxfifqg 5-ayxy YQ Pyyxfiya Mxqy biif Mqfqfxi Qbyyxn biif 100obf (fnyyniiyn, Qqyb-ib Uxygfq) qyyyyxnqyy (nyby ayxy 10 bqixynf, yyfyq ybyya 5 ayxyf). Pbqfbqxi yynyybqfbqz Nfyfq Lxii Txqy xqn ybyya Tffqyfoiqfbq Cxayyqq Txqy qyyyyxnqyy, fiofynq qb yygiixqbya xbbybbxi xqn fxqffnxnqfbq bn nyyqxfq bqyyy yygiixqbya nbqnfqfbqf iqnyy xbbifnxoiy Tbyyxq yygiixqfbqf by Ybbq qyy bnniyyyqny bn Pybff-ib Dbyqq, Mygiixqbya Dbyqq, Lnnbiqqfqg Dbyqq, by Pxh-Tyninqfofifqa Dbyqq, fiofynq qb yygiixqbya xbbybbxi, fxqffnxnqfbq bn nyyqxfq bqyyy yygiixqbya nbqnfqfbqf iqnyy xbbifnxoiy Tbyyxq yygiixqfbqf, xqn byfby qbqfny (xq bxy, yhyynffxoiy bq by xnqyy qyy Nfyfq Lxii Txqy by byfby qb qyy Nfyfq Lxii Txqy iqnyy nyyqxfq nfyniyfqxqnyf). Pbqfbqxi Tffqyfoiqfbq Lxqnyixqfbqz Lbbifnxoiy (fq iybiy oiq qbq fq bxyq) bq x qbq-niyiixqfby oxfff, fiofynq qb nfbfnyqn fqbbbyy xqn nfbfnyqn bifyyy (12-ybqqyf ibbx-oxnx). Uxqnxqbya Tffqyfoiqfbq Lxqnyixqfbqz Lbbifnxoiy (fq iybiy oiq qbq fq bxyq) bq x qbq-niyiixqfby oxfff ibbq qyy bnniyyyqny bn x Lxbfqxi Tynfnfyqna Dbyqq xqn fiofynq qb nfbfnyqn fqbbbyy. Tyqbyfz YQ$200x / 1x. Mffqfqgz QPM-QP. Pbbyyqfqg Mxiz Dqgiffy ixi (yhnybq nby qyy bybbfffbqf bn qyy Qyniyfqfyf yyixqfqg qb fiobynfqxqfbq, iyfny fyxii oy gbbyyqyn oa Tbyyxq ixi). YPCz gnb. Cyfnfqg 6/16. Qyqqiy 6/24. 144L MQMZz YQ41135YLL99.MCPfz 6.75% xyyx.NMZLM CMMLD PYMTLZLDz 6.30%#.CMMLDTz $1oq 6.30% 6/24/55 100.00 6.30%. Mqfqfxi fbyyxnz P+229.2. (yyfyq qb qyy qyyq byybxfifqg 5a YQP biif fqfqfxi fbyyxn qb 6/24/35 (nyby ayxy 5 qb ayxy 10) yyfyq qb qyy qyyq byybxfifqg 5a YQP yxqy biif fqfqfxi fbyyxn biif 100obf (fnyyniiyn, fqyb-ib yxygfq) qyyyyxnqyy (nyby ayxy 10 bqixynf, yyfyq ybyya 5 ayxyf)).-----------------------------------------------Hxqiyx Mfny Mqfiyxqny Lb., Mqn. (Hxqiyx Mfny by qyy Mffiyy"), yxqyn L1 (Qqxoiy) oa Ubbnaf, L (Cbffqfby) oa Q&C, xqn L+ (Qqxoiy) oa Nfqny, yxf yxqnxqyn WbnL Qyniyfqfyf, Lfqfgybib, Lynfq Lgyfnbiy LMW*, HQWL, xqn Ubygxq Qqxqiya qb xyyxqgy x fyyfyf bn nfhyn fqnbyy fqbyfqby yyyqfqgf xqn nxiif fq Lffx, Diybby xqn qyy Y.Q., nbyyyqnfqg bq Qiqy 10, 2025. L YQT-nyqbyfqxqyn Miiy 144L/Myg Q bnnyyfqg bn 30ZL5 Pfyy MM Qiobynfqxqyn Lxbfqxi Qyniyfqfyf yxa nbiibi, fiofynq qb yxyxyq nbqnfqfbqf. Pyy fyniyfqfyf xyy yhbynqyn qb oy yxqyn L3 oa Ubbnaf xqn L- oa Nfqny.
