Bayer spinout ought to boost skinny levloan supply

Animals
By Owen Sanderson
03 Jun 2019

Bayer’s sale of its animal health unit ought to help a leveraged loan market where supply is still running short of last year’s total — and help loan investors compensate for M&A deals that have dropped out of this year’s pipeline.

The German pharmaceuticals and chemicals group announced last year that it would sell its animal healthcare division, which the Financial Times reported on Sunday could fetch up to €8bn, and potentially attract interest from BC Partners, CVC, Cinven and Permira.

That would mean welcome supply — though likely ...

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