Amazon jumbo to mark zenith of M&A prints
Amazon priced the third jumbo M&A financing bond issue in a month in the US corporate bond market on Tuesday. The $16bn seven tranche package was the fourth-largest new issue of 2017, but the summer of 2017 could signal the high point of M&A related issuance for some time, writes Nigel Owen.
The two largest bond issues of 2017, for British American Tobacco and AT&T, raised nearly $40bn between them for their respective acquisitions of Reynolds American and TimeWarner. Amazon’s deal was to finance its $13.7bn acquisition of Whole Foods.
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