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| CCY | SZE(M) | TNR | MTY | RNK | MO | SP | FI | TYPE | BNCH | IPT | GDNC | SPRD | CPN | NIC | PRICE |
|---|
| USD | 425.000 | 8 | May-31 | Senior | Ba3 | BB | - | Fixed | Tsy | 8.00-8.25% | 7.75-8.00% | 434 | 7.75% | - | 100.00000 |
Tranche Comments
8 yr: First Pay: 2023-11-01; Redemption: 2026-05-01; Registration: 144A/Reg S; Comments: US$425m (upsized from US$400m) 7.75% cpn 8yr (5/1/31) at 100, 7.75% yld. Spread: T+434bp. Equity Clawback: Up to 40% at 107.75%. MWC T+50bp until 5/1/26 and the Call Schedule: 5/1/26 103.875, 5/1/27 101.938 , 5/1/28 and thereafter 100. Settlement: 4/25/23. CoC: 101%;
Use of Proceeds
To fund payment to RemainCo (MDU Resources) and pay related fees, costs and expenses