Buyout Financing

Answers Corp. Launches $535M Loans Proposal

Price talk has emerged for a $535 million loan package proposed by Answers.com in its announced buyout by Apax Partners, according to sources.

Thomson: Leveraged Buyout Debt Levels Nearing 2007 Peak

Escalating purchase-price multiples are fueling higher leverage levels in 2014 corporate buyouts, which are nearing peak 2007 LBO leverage levels, according to Thomson Reuters LPC.

Caesars in Restructuring Talks with Bondholders

Debt-laden gaming and casino giant Caesars Entertainment said it is in restructuring talks with bondholders. The company said it was “clearing the path” to start formal discussions with first-lien creditors.

Acosta Price Talk Nears 8% Yield

Price talk on Acosta’s offering of $800 million in new junk bonds is close to 8%. The sales and market company is expected to price the notes today.

WhiteWave, York Risk Offer New Bonds

WhiteWave Foods is selling $350 million in senior notes due 2022. York Risk Services is on the market with an offer of $270 million in senior notes due 2022.

Berlin Proposes $840M Loans Offering

Berlin Packaging has launched an $840 million loans proposal to help fund its buyout by Oak Hill Capital Partners, according to sources.

Covenants Decline in Quality for HY Bonds, Loans

Covenants for both high yield bonds and leveraged loans have continued to decline this year, according to Moody’s . There is little to suggest that anything other than a major macroeconomic event will change precedents for weaker covenants.

Linn Energy Plans $1B New Bond Deal

Linn Energy plans to issue $1 billion in bonds as it finances its $2.3 billion purchase of assets from Devon Energy. The bonds are expected to price today.

Aecom Launching $1.26B Loan Offer

A lender’s meeting is scheduled for Thursday for Aecom Technology’s $1.26 billion loan to help fund its estimated $6 billion planned acquisition of URS Corp.

Dollar General Ups Offer for Family Dollar

The bidding war over Family Dollar Stores escalated Tuesday when Dollar General raised its unsolicited takeover offer to $80 a share and said it would agree to close up to 1,500 stores in a potential merger to allay Family Dollar’s concerns about antitrust regulatory approval.

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Eric Needleman

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Firm: Sterne Agee Group

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