Proceeds from the bond sale will be combined with a $1.53 billion term loan B and a $100 million revolver to fund the company's buyout.
Consumer packaging supplier Ball Corp. had its ratings placed under review by Moodys Investors Service, and its outlook revised to negative by Standard & Poors, in the wake of its plans to acquire UK-based beverage-can producer Rexam PLC for $8.4 billion including debt.
Moodys Investors Service and Standard & Poors issued comments Friday stating that the existing ratings for the market-leading online travel agency would not be impacted, even if the entire $1.6 billion transaction were to be funded with debt.
Commitments are due today on a $4.3 billion term loan B term loan B buyout proposal from PetSmart, which accelerated the original Feb. 20 deadline by one week, according to reports.
American Beacon is ready to launch a $310 million loans proposal for financing it lined up in November following its announced buyout by private equity sponsors Kelso & Co. and Estancia Capital Management.
Riverbed Technology has scheduled lender meetings Thursday for a $1.53 billion buyout debt proposal in what is expected to be the third-largest loan launch of the year, according to reports and KDP Investment Advisors. Details emerged Friday on a companion $600 million notes offering, as well.
The bulk--$3.25 billion--was issued by Dollar Tree to fund its buyout of Family Dollar.
Lenders are scheduled to meet Thursday with Canadian corporate credit ratings agency DBRS to discuss terms of a $300 million loans proposal to fund DBRS recent buyout by Carlyle Group and Warburg Pincus.
IPC Corp. closed on $595 million first-lien loan tranche, and has extended commitments through end of day Wednesday on a $305 million second-lien loan after tightening some price talk terms.
SS&C Technologies is planning a corporate debt issuance of $2.63 billion in loans and up to a $500 million unsecured notes issue to help fund its planned acquisition of Advent Software announced Monday.
Chief Financial Officer
Firm: Windstream Holdings