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Minerva perpetual
MINERVA LUX. 14/UND FLR (Reg.S) | Bond | A1ZFP8 | USL6401PAD52 | Börse Frankfurt (Frankfurt Stock Exchange)
New Issue Alert
Deal details:
ISSUER: Minerva Luxembourg S.A. ("MINERV")
GUARANTOR: Minerva S.A.
EXP. RATING: BB- / BB- (S&P / Fitch; all stable)
RANKING: Senior unsecured
FORMAT: 144A / Reg S (without registration rights)
SIZE: US$ TBD
TENOR: Perpetual Non-call 5-years
COUPo_nReset: Reset after 5yrs and every 5yrs thereafter to the prevailing 5yr Treasury plus the initial credit spread
REDEMPTION: 100% in whole or in part after year 5 and every 5-years thereafter
USE OF PROCEEDS: Repay existing indebtness and gcp (see RED)
MARKETING: e-Red | www.netroadshow.com; passcode: BEEF2014
Deal roadshow concludes on Wednesday, March 26
DETAILS: Singapore Stock Exchange / US$200,000 x US$1,000 / NY Law
BOOKRUNNERS: BofA Merrill Lynch / HSBC / Itaú BBA
TIMING: This week's business
TAX CONSIDERATIONS: U.S. investors that are not tax exempt should consider the potential-adverse tax consequences of holding the notes, including that the issuer may be considered a PFIC (see RED)
PB REBATE: Based on allocation
- $200k to $1.0mm 0.125 cents
- More than $1.0mm to $2.5mm 0.250 cents
- More than $2.5mm to $5.0mm 0.375 cents
- More than $5.0mm 0.500 cents
Price guidance:
IPT 9% YTM area
MINERVA LUX. 14/UND FLR (Reg.S) | Bond | A1ZFP8 | USL6401PAD52 | Börse Frankfurt (Frankfurt Stock Exchange)
New Issue Alert
Deal details:
ISSUER: Minerva Luxembourg S.A. ("MINERV")
GUARANTOR: Minerva S.A.
EXP. RATING: BB- / BB- (S&P / Fitch; all stable)
RANKING: Senior unsecured
FORMAT: 144A / Reg S (without registration rights)
SIZE: US$ TBD
TENOR: Perpetual Non-call 5-years
COUPo_nReset: Reset after 5yrs and every 5yrs thereafter to the prevailing 5yr Treasury plus the initial credit spread
REDEMPTION: 100% in whole or in part after year 5 and every 5-years thereafter
USE OF PROCEEDS: Repay existing indebtness and gcp (see RED)
MARKETING: e-Red | www.netroadshow.com; passcode: BEEF2014
Deal roadshow concludes on Wednesday, March 26
DETAILS: Singapore Stock Exchange / US$200,000 x US$1,000 / NY Law
BOOKRUNNERS: BofA Merrill Lynch / HSBC / Itaú BBA
TIMING: This week's business
TAX CONSIDERATIONS: U.S. investors that are not tax exempt should consider the potential-adverse tax consequences of holding the notes, including that the issuer may be considered a PFIC (see RED)
PB REBATE: Based on allocation
- $200k to $1.0mm 0.125 cents
- More than $1.0mm to $2.5mm 0.250 cents
- More than $2.5mm to $5.0mm 0.375 cents
- More than $5.0mm 0.500 cents
Price guidance:
IPT 9% YTM area
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McDermott International, Inc.
Price guidance:
8% area
Timing
Books close TOMORROW (4/10) @ 10:00 AM EDT
Pricing tomorrow afternoon (TOMORROW’S Business)
Issuer description:
McDermott International, Inc. is a worldwide energy services company. The Company and its
subsidiaries provide engineering, fabrication, installation, procurement, research, manufacturing,
environmental systems, project management, and facility management services to a variety of customers
in the energy and power industries, including the U.S. Department of Energy.
Price guidance:
8% area
Timing
Books close TOMORROW (4/10) @ 10:00 AM EDT
Pricing tomorrow afternoon (TOMORROW’S Business)
Issuer description:
McDermott International, Inc. is a worldwide energy services company. The Company and its
subsidiaries provide engineering, fabrication, installation, procurement, research, manufacturing,
environmental systems, project management, and facility management services to a variety of customers
in the energy and power industries, including the U.S. Department of Energy.
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